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

Core Molding Technologies Inc (NYSEAMERICAN:CMT) Director Thomas Cellitti sold 2,495 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $24.00, for a total transaction of $59,880.00. Following the transaction, the director directly owned 93,818 shares of the company’s stock, valued at $2,251,632. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Core Molding Technologies Stock Up 2.1%

Shares of CMT opened at $23.82 on Wednesday. The firm has a market cap of $212.00 million, a PE ratio of 21.27 and a beta of 0.44. 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 company’s fifty day moving average is $24.84 and its two-hundred day moving average is $21.74. Core Molding Technologies Inc has a fifty-two week low of $16.26 and a fifty-two week high of $28.69.

Core Molding Technologies announced that its Board of Directors has approved a stock buyback program on Thursday, March 12th that permits the company to buyback $7,500.00 billion in shares. This buyback authorization permits the industrial products company to repurchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Core Molding Technologies

A number of large investors have recently added to or reduced their stakes in CMT. 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 worth $34,000 after acquiring an additional 763 shares during the last quarter. NewEdge Advisors LLC increased its holdings 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 worth $39,000 after purchasing an additional 803 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Core Molding Technologies in the 4th quarter valued at approximately $43,000. JPMorgan Chase & Co. raised 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 valued at $78,000 after purchasing an additional 738 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Core Molding Technologies by 34.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock valued at $202,000 after buying an additional 2,593 shares during the last quarter. 58.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMT has been the subject of a number of research reports. Zacks Research cut Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Roth Mkm lifted their price target on shares of Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. One equities 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 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.