Core Molding Technologies (NYSEAMERICAN:CMT) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Core Molding Technologies (NYSEAMERICAN:CMT) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

Separately, Roth Capital boosted their target price on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Core Molding Technologies Stock Down 0.9%

CMT stock opened at $23.28 on Monday. The company has a current ratio of 2.41, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. The firm has a market cap of $207.19 million, a PE ratio of 20.79 and a beta of 0.43. Core Molding Technologies has a 1 year low of $16.37 and a 1 year high of $28.69. The company has a fifty day simple moving average of $24.15 and a 200 day simple moving average of $22.00.

Core Molding Technologies announced that its Board of Directors has initiated a stock repurchase program on Thursday, March 12th that authorizes the company to repurchase $7,500.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 4,581,831.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Core Molding Technologies news, Director Thomas R. Cellitti sold 3,000 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the sale, the director directly owned 98,393 shares of the company’s stock, valued at $2,437,194.61. This represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 9,900 shares of company stock worth $242,320. 11.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Molding Technologies

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in Core Molding Technologies by 5.1% in the 4th quarter. Barclays PLC now owns 14,448 shares of the industrial products company’s stock valued at $290,000 after acquiring an additional 695 shares in 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 valued at $78,000 after purchasing an additional 738 shares during the period. BNP Paribas Financial Markets increased its position in shares of Core Molding Technologies by 83.8% during the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 763 shares during the period. NewEdge Advisors LLC raised its stake in shares of Core Molding Technologies by 70.8% in the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 803 shares in the last quarter. Finally, Strs Ohio lifted its position in Core Molding Technologies by 3.5% in the fourth quarter. Strs Ohio now owns 26,600 shares of the industrial products company’s stock worth $533,000 after purchasing an additional 900 shares during the period. 58.79% of the stock is owned by institutional investors and hedge funds.

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.