Michael James Gayford Buys 500 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) EVP Michael James Gayford purchased 500 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were acquired at an average cost of $20.12 per share, with a total value of $10,060.00. Following the completion of the acquisition, the executive vice president directly owned 27,167 shares in the company, valued at $546,600.04. The trade was a 1.87% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Core Molding Technologies Stock Down 1.4%

Shares of NYSEAMERICAN:CMT traded down $0.30 on Thursday, hitting $20.44. 19,372 shares of the company’s stock were exchanged, compared to its average volume of 24,354. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.45 and a current ratio of 3.02. Core Molding Technologies Inc has a 1-year low of $13.99 and a 1-year high of $22.29. The company has a market capitalization of $180.49 million, a PE ratio of 15.72 and a beta of 0.44. The firm’s 50-day moving average is $19.34 and its 200 day moving average is $19.48.

Core Molding Technologies (NYSEAMERICAN:CMT) last posted its earnings results on Tuesday, March 10th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. The firm had revenue of $74.68 million during the quarter, compared to analysts’ expectations of $66.44 million. Core Molding Technologies had a return on equity of 7.26% and a net margin of 4.09%. Sell-side analysts predict that Core Molding Technologies Inc will post 1.64 EPS for the current year.

Core Molding Technologies announced that its board has authorized a share repurchase program on Thursday, March 12th that authorizes the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 4,581,831.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Separately, Roth Mkm upped their target price on shares of Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Core Molding Technologies currently has an average rating of “Buy” and an average target price of $24.00.

Institutional Trading of Core Molding Technologies

Large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Core Molding Technologies by 83.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 763 shares during the period. NewEdge Advisors LLC lifted its stake in Core Molding Technologies by 70.8% in the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after buying an additional 803 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Core Molding Technologies in the fourth quarter valued at approximately $43,000. JPMorgan Chase & Co. boosted its holdings in shares of 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 period. Finally, Wells Fargo & Company MN grew its position in shares of 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 acquiring an additional 2,593 shares during the last quarter. 58.79% of the stock is owned by institutional investors and hedge funds.

About Core Molding Technologies

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.