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

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

Core Molding Technologies Stock Performance

CMT stock traded up $0.19 on Monday, hitting $24.83. The company’s stock had a trading volume of 33,490 shares, compared to its average volume of 29,037. The firm has a 50 day moving average of $24.70 and a two-hundred day moving average of $21.50. Core Molding Technologies Inc has a 1 year low of $16.12 and a 1 year high of $28.69. The stock has a market cap of $220.99 million, a price-to-earnings ratio of 22.17 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 announced that its board has approved a stock repurchase plan on Thursday, March 12th that allows the company to repurchase $7,500.00 billion in shares. This repurchase authorization allows the industrial products company to reacquire up to 4,581,831.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Core Molding Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake 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 purchasing an additional 763 shares during the period. NewEdge Advisors LLC grew its stake in shares of Core Molding Technologies by 70.8% during the 4th 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 period. Kestra Advisory Services LLC acquired a new position in shares of Core Molding Technologies during the 4th quarter worth $43,000. JPMorgan Chase & Co. grew its stake in shares of Core Molding Technologies by 18.6% during the 2nd 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 grew its stake in shares of Core Molding Technologies by 34.6% during the 4th 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. 58.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMT has been the subject of a number of analyst reports. Zacks Research downgraded shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Roth Mkm upped their price objective on shares of Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.