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

Core Molding Technologies (NYSEAMERICAN:CMT) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Separately, Roth Capital increased their price target 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. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Core Molding Technologies Price Performance

CMT stock opened at $23.28 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 2.41. The business has a 50-day simple moving average of $24.15 and a two-hundred day simple moving average of $22.00. The company has a market capitalization of $207.19 million, a P/E ratio of 20.79 and a beta of 0.43. Core Molding Technologies has a 52-week low of $16.37 and a 52-week high of $28.69.

Core Molding Technologies announced that its board has approved a stock buyback plan on Thursday, March 12th that permits the company to repurchase $7,500.00 billion in shares. This repurchase authorization permits the industrial products company to reacquire up to 4,581,831.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Core Molding Technologies

In other news, Director Thomas R. Cellitti sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 9,900 shares of company stock valued at $242,320. 11.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its position in shares of Core Molding Technologies by 83.8% during the 3rd 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 last quarter. NewEdge Advisors LLC grew its position in Core Molding Technologies by 70.8% during the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after buying an additional 803 shares during the period. Kestra Advisory Services LLC purchased a new stake in Core Molding Technologies during the fourth quarter worth about $43,000. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 738 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Core Molding Technologies by 34.6% in the fourth 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 during the period. Hedge funds and other institutional investors own 58.79% of the company’s stock.

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.