Thomas Cellitti Sells 750 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 750 shares of the firm’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $24.07, for a total transaction of $18,052.50. Following the transaction, the director directly owned 92,543 shares of the company’s stock, valued at $2,227,510.01. The trade was a 0.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Core Molding Technologies Trading Up 0.6%

Shares of NYSEAMERICAN:CMT traded up $0.15 during mid-day trading on Thursday, reaching $23.77. 16,839 shares of the company’s stock were exchanged, compared to its average volume of 29,174. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 2.41. Core Molding Technologies Inc has a twelve month low of $16.37 and a twelve month high of $28.69. The firm has a market capitalization of $211.55 million, a price-to-earnings ratio of 21.22 and a beta of 0.44. The business’s fifty day moving average price is $24.80 and its 200-day moving average price is $21.78.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on CMT. Roth Mkm upped their target price on Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Zacks Research lowered shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a 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 an average rating of “Hold” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Empowered Funds LLC boosted its position 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 valued at $621,000 after purchasing an additional 2,888 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 worth $3,051,000 after purchasing an additional 4,332 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 worth $78,000 after purchasing an additional 738 shares in the last quarter. Rhumbline Advisers lifted its stake in Core Molding Technologies by 8.9% in the second quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company’s stock valued at $210,000 after buying an additional 1,038 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in Core Molding Technologies by 46.2% in the second quarter. Quantinno Capital Management LP now owns 25,769 shares of the industrial products company’s stock valued at $428,000 after buying an additional 8,146 shares during the period. 58.79% of the stock is owned by institutional investors.

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.