Core Molding Technologies (NYSEAMERICAN:CMT) Director Thomas Cellitti Sells 513 Shares of Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 513 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $24.02, for a total value of $12,322.26. Following the completion of the transaction, the director directly owned 93,293 shares in the company, valued at approximately $2,240,897.86. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Core Molding Technologies Stock Performance

Shares of CMT stock opened at $23.77 on Friday. The stock has a 50-day moving average of $24.75 and a 200-day moving average of $21.81. Core Molding Technologies Inc has a one year low of $16.37 and a one year high of $28.69. The stock has a market cap of $211.55 million, a PE ratio of 21.22 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95.

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

Institutional Investors Weigh In On Core Molding Technologies

Several hedge funds have recently bought and sold shares of CMT. Empowered Funds LLC lifted its position in shares of Core Molding Technologies by 6.0% in the first quarter. Empowered Funds LLC now owns 54,368 shares of the industrial products company’s stock valued at $1,218,000 after buying an additional 3,085 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Core Molding Technologies by 19.7% during the 1st quarter. Quantinno Capital Management LP now owns 45,462 shares of the industrial products company’s stock worth $1,018,000 after acquiring an additional 7,493 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Core Molding Technologies by 46.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 31,172 shares of the industrial products company’s stock worth $698,000 after acquiring an additional 9,953 shares during the last quarter. Sei Investments Co. raised its stake in Core Molding Technologies by 112.6% in the 1st quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company’s stock valued at $5,052,000 after acquiring an additional 119,457 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Core Molding Technologies by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 391,207 shares of the industrial products company’s stock valued at $8,763,000 after acquiring an additional 2,922 shares during the period. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMT has been the topic of a number of recent research reports. Zacks Research lowered Core Molding Technologies from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Roth Mkm lifted their price objective 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 investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Core Molding Technologies 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.