Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 2,495 Shares of Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,495 shares of Core Molding Technologies stock in a transaction 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 completion of the transaction, the director owned 93,818 shares of the company’s stock, valued at approximately $2,251,632. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Core Molding Technologies Stock Down 1.9%

Shares of Core Molding Technologies stock traded down $0.46 during trading on Monday, hitting $23.34. 56,677 shares of the stock were exchanged, compared to its average volume of 29,328. 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 firm’s 50-day moving average price is $24.83 and its 200 day moving average price is $21.68. The stock has a market cap of $207.73 million, a price-to-earnings ratio of 20.84 and a beta of 0.44. Core Molding Technologies Inc has a 12-month low of $16.16 and a 12-month high of $28.69.

Core Molding Technologies declared that its board has initiated a share repurchase program 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 buy up to 4,581,831.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Core Molding Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC increased its position in shares of Core Molding Technologies by 7.6% in the first quarter. Empowered Funds LLC now owns 40,862 shares of the industrial products company’s stock valued at $621,000 after buying an additional 2,888 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Core Molding Technologies by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 183,910 shares of the industrial products company’s stock worth $3,051,000 after buying an additional 4,332 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Core Molding Technologies by 18.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock worth $78,000 after buying an additional 738 shares in the last quarter. Rhumbline Advisers grew its stake in Core Molding Technologies by 8.9% in the 2nd quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Core Molding Technologies by 46.2% during the 2nd quarter. Quantinno Capital Management LP now owns 25,769 shares of the industrial products company’s stock valued at $428,000 after acquiring an additional 8,146 shares in the last quarter. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Roth Mkm increased their target price 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 cut Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.