Michael James Gayford Buys 500 Shares of Core Molding Technologies (NYSEAMERICAN:CMT) Stock

Core Molding Technologies Inc (NYSEAMERICAN:CMT) EVP Michael James Gayford bought 500 shares of the stock in a transaction dated Thursday, March 19th. The stock was bought at an average price of $20.12 per share, with a total value of $10,060.00. Following the acquisition, the executive vice president owned 27,167 shares in the company, valued at approximately $546,600.04. This represents a 1.87% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Core Molding Technologies Price Performance

Shares of NYSEAMERICAN:CMT opened at $20.06 on Friday. Core Molding Technologies Inc has a 12 month low of $13.99 and a 12 month high of $22.29. The firm has a market capitalization of $177.13 million, a P/E ratio of 15.43 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.02 and a quick ratio of 2.45. The company’s fifty day moving average price is $19.37 and its 200 day moving average price is $19.49.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its quarterly earnings data on Tuesday, March 10th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.24. The company had revenue of $74.68 million during the quarter, compared to the consensus estimate of $66.44 million. Core Molding Technologies had a net margin of 4.09% and a return on equity of 7.26%. As a group, sell-side analysts predict that Core Molding Technologies Inc will post 1.64 earnings per share for the current fiscal year.

Core Molding Technologies announced that its board has authorized 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 repurchase up to 4,581,831.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Core Molding Technologies

A number of large investors have recently bought and sold shares of CMT. BNP Paribas Financial Markets grew its position in 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 worth $34,000 after purchasing an additional 763 shares during the last quarter. NewEdge Advisors LLC raised its holdings 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 buying an additional 803 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Core Molding Technologies during the fourth quarter worth about $43,000. JPMorgan Chase & Co. boosted its stake 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 worth $78,000 after buying an additional 738 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Core Molding Technologies by 34.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock worth $202,000 after buying an additional 2,593 shares during the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm raised their price target on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Core Molding Technologies currently has an average rating of “Buy” and a consensus price target of $24.00.

Core Molding Technologies Company Profile

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.