Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $18,052.50 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 750 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $24.07, for a total value of $18,052.50. Following the completion of the sale, the director owned 92,543 shares in the company, valued at $2,227,510.01. This represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core Molding Technologies Trading Down 0.4%

Core Molding Technologies stock opened at $23.67 on Friday. The stock has a 50-day moving average price of $24.70 and a 200 day moving average price of $21.82. Core Molding Technologies Inc has a 52 week low of $16.37 and a 52 week high of $28.69. The stock has a market cap of $210.66 million, a PE ratio of 21.13 and a beta of 0.44. The company has a current ratio of 2.41, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11.

Core Molding Technologies declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 12th that permits the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 4,581,831.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CMT has been the subject of several recent analyst reports. Roth Mkm lifted their target price on shares of 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 lowered Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMT. BNP Paribas Financial Markets lifted its holdings in shares of Core Molding Technologies by 83.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 763 shares during the period. NewEdge Advisors LLC increased its position in Core Molding Technologies by 70.8% during the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 803 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Core Molding Technologies during the fourth quarter worth approximately $43,000. JPMorgan Chase & Co. raised its stake in Core Molding Technologies by 18.6% during the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 738 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Core Molding Technologies by 34.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock worth $202,000 after purchasing an additional 2,593 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.

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.