Thomas Cellitti Sells 750 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 750 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $24.07, for a total transaction of $18,052.50. Following the transaction, the director owned 92,543 shares in the company, valued at $2,227,510.01. The trade was a 0.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Core Molding Technologies Stock Up 0.6%

NYSEAMERICAN:CMT traded up $0.15 during trading hours on Thursday, reaching $23.77. The company had a trading volume of 16,839 shares, compared to its average volume of 29,174. The company has a quick ratio of 1.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. The firm has a market cap of $211.55 million, a price-to-earnings ratio of 21.22 and a beta of 0.44. The business’s 50-day simple moving average is $24.80 and its two-hundred day simple moving average is $21.78. Core Molding Technologies Inc has a twelve month low of $16.37 and a twelve month high of $28.69.

Core Molding Technologies declared that its board has initiated a share buyback program on Thursday, March 12th that authorizes the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 4,581,831.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of analysts recently commented on CMT shares. Roth Mkm boosted their target price on Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a research report 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 analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.00.

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.