Thomas Cellitti Sells 2,000 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.07, for a total value of $50,140.00. Following the sale, the director directly owned 96,393 shares in the company, valued at approximately $2,416,572.51. The trade was a 2.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Core Molding Technologies Price Performance

NYSEAMERICAN:CMT traded down $0.12 during midday trading on Wednesday, hitting $23.31. 24,361 shares of the stock were exchanged, compared to its average volume of 28,990. The company has a market capitalization of $207.46 million, a price-to-earnings ratio of 20.81 and a beta of 0.44. Core Molding Technologies Inc has a one year low of $16.12 and a one year high of $28.69. The business has a 50-day moving average price of $24.80 and a two-hundred day moving average price of $21.60. 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 initiated a stock repurchase plan on Thursday, March 12th that permits the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 4,581,831.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

CMT has been the topic of several research analyst reports. Zacks Research cut shares of Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Roth Mkm boosted their price target 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 analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

Institutional Investors Weigh In On Core Molding Technologies

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 763 shares during the last quarter. NewEdge Advisors LLC lifted its position in 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 acquiring an additional 803 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Core Molding Technologies during the fourth quarter valued at about $43,000. JPMorgan Chase & Co. raised its position in shares of Core Molding Technologies by 18.6% during the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock valued at $78,000 after buying an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN raised 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 valued at $202,000 after buying an additional 2,593 shares during the last quarter. 58.79% of the stock is currently owned by institutional investors.

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.