Core Molding Technologies (NYSEAMERICAN:CMT) Director Sells 513 Shares

by · The Markets Daily

Core Molding Technologies Inc (NYSEAMERICAN:CMT – Get Free Report) Director Thomas Cellitti sold 513 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $24.02, for a total transaction of $12,322.26. Following the completion of the transaction, the director owned 93,293 shares in the company, valued at $2,240,897.86. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Core Molding Technologies Trading Up 0.6%

Shares of NYSEAMERICAN:CMT traded up $0.15 during midday trading on Thursday, hitting $23.77. 16,839 shares of the stock traded hands, compared to its average volume of 29,174. The stock has a market capitalization of $211.55 million, a PE ratio of 21.22 and a beta of 0.44. The business’s 50 day moving average is $24.80 and its two-hundred day moving average is $21.78. The company has a quick ratio of 1.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. Core Molding Technologies Inc has a one year low of $16.37 and a one year high of $28.69.

Core Molding Technologies declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 12th that allows the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 4,581,831.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Core Molding Technologies

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its stake in Core Molding Technologies by 83.8% in the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock worth $34,000 after buying an additional 763 shares in the last quarter. NewEdge Advisors LLC boosted 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 valued at $39,000 after acquiring an additional 803 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Core Molding Technologies during the 4th quarter worth approximately $43,000. JPMorgan Chase & Co. grew its holdings in shares of Core Molding Technologies by 18.6% during the 2nd 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 during the period. Finally, Wells Fargo & Company MN raised its position in shares of Core Molding Technologies by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock worth $202,000 after acquiring an additional 2,593 shares in the last quarter. Institutional investors own 58.79% of the company’s stock.

Wall Street Analyst Weigh In

CMT has been the subject of a number of recent analyst 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 boosted their target price on Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.00.

View Our Latest Report on CMT

About Core Molding Technologies

(Get Free Report)

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.

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