Insider Selling: Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells $59,880.00 in Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,495 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $24.00, for a total value of $59,880.00. Following the transaction, the director directly owned 93,818 shares of the company’s stock, valued at $2,251,632. The trade was a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Core Molding Technologies Price Performance

Shares of CMT stock opened at $23.62 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95. The company has a market capitalization of $210.22 million, a PE ratio of 21.09 and a beta of 0.44. The firm’s 50-day moving average is $24.80 and its two-hundred day moving average is $21.78. Core Molding Technologies Inc has a 12 month low of $16.35 and a 12 month high of $28.69.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CMT shares. Roth Mkm boosted their price target 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 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bard Associates Inc. bought a new position in Core Molding Technologies during the 3rd quarter valued at $2,689,000. Teton Advisors LLC acquired a new stake in shares of Core Molding Technologies in the third quarter valued at $1,744,000. 22NW LP lifted its holdings in shares of Core Molding Technologies by 16.5% in the third quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after buying an additional 31,516 shares during the period. Royce & Associates LP boosted 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 buying an additional 34,188 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings 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 worth $3,973,000 after acquiring an additional 30,062 shares during the period. Hedge funds and other institutional investors 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.