Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 900 Shares

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 900 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $24.23, for a total transaction of $21,807.00. Following the completion of the sale, the director directly owned 101,393 shares of the company’s stock, valued at approximately $2,456,752.39. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Core Molding Technologies Trading Up 0.8%

Shares of NYSEAMERICAN:CMT opened at $24.83 on Tuesday. The company has a 50 day moving average of $24.75 and a 200-day moving average of $21.54. The firm has a market cap of $220.99 million, a P/E ratio of 22.17 and a beta of 0.44. Core Molding Technologies Inc has a twelve month low of $16.12 and a twelve month high of $28.69. 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 announced that its Board of Directors has authorized a share repurchase program 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 repurchase up to 4,581,831.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Core Molding Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bard Associates Inc. acquired a new stake in Core Molding Technologies during the third quarter valued at approximately $2,689,000. Teton Advisors LLC acquired a new stake in Core Molding Technologies during the third quarter valued at approximately $1,744,000. 22NW LP lifted its stake in Core Molding Technologies by 16.5% during the third quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after purchasing an additional 31,516 shares during the last quarter. Royce & Associates LP lifted its stake in Core Molding Technologies by 17.3% during the third quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock valued at $4,758,000 after purchasing an additional 34,188 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in Core Molding Technologies by 17.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock valued at $3,973,000 after purchasing an additional 30,062 shares during the last quarter. 58.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CMT. Zacks Research lowered shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Roth Mkm increased their target price on shares of Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Core Molding Technologies presently has an average 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.