Thomas Cellitti Sells 2,000 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.07, for a total transaction of $50,140.00. Following the completion of the sale, the director owned 96,393 shares in the company, valued at $2,416,572.51. This represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Core Molding Technologies Stock Up 2.1%

Shares of NYSEAMERICAN:CMT opened at $23.80 on Friday. The firm has a fifty day moving average price of $24.82 and a two-hundred day moving average price of $21.64. The company has a market cap of $211.82 million, a price-to-earnings ratio of 21.25 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95. Core Molding Technologies Inc has a one year low of $16.16 and a one year high of $28.69.

Core Molding Technologies announced that its board has initiated a stock buyback plan on Thursday, March 12th that allows the company to buyback $7,500.00 billion in shares. This buyback authorization allows the industrial products company to buy up to 4,581,831.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Core Molding Technologies

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in shares of Core Molding Technologies by 7.6% during the 1st quarter. Empowered Funds LLC now owns 40,862 shares of the industrial products company’s stock worth $621,000 after acquiring an additional 2,888 shares during the last quarter. Geode Capital Management LLC increased its stake in Core Molding Technologies by 2.4% in the second quarter. Geode Capital Management LLC now owns 183,910 shares of the industrial products company’s stock valued at $3,051,000 after acquiring an additional 4,332 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Core Molding Technologies by 18.6% in the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock valued at $78,000 after acquiring an additional 738 shares during the last quarter. Rhumbline Advisers raised its position in Core Molding Technologies by 8.9% during the second quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company’s stock valued at $210,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Quantinno Capital Management LP raised its position in Core Molding Technologies by 46.2% during the second quarter. Quantinno Capital Management LP now owns 25,769 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 8,146 shares in the last quarter. Institutional investors own 58.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMT. Roth Mkm upped their target price on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Zacks Research downgraded Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $24.00.

Core Molding Technologies Company Profile

Core Molding Technologies is a publicly traded manufacturer specializing in engineered composite and polymer solutions for a wide array of industrial applications. The company’s core business includes the design, tooling and high-volume production of fiberglass-reinforced plastics, advanced polyurethane systems, structural composites and specialty coatings. Its products find use in commercial vehicles, off-highway equipment, defense, power sports, recreation and industrial markets.

Core Molding offers end-to-end services ranging from digital design and prototyping to mold fabrication, process development and full-scale manufacturing.