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

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

Core Molding Technologies Price Performance

Shares of CMT opened at $23.34 on Tuesday. The company has a 50 day moving average of $24.84 and a two-hundred day moving average of $21.71. 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 twelve month low of $16.16 and a twelve month high of $28.69. The company has a market cap of $207.73 million, a price-to-earnings ratio of 20.84 and a beta of 0.44.

Core Molding Technologies announced that its Board of Directors has authorized a share buyback program 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 programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMT. Bard Associates Inc. acquired a new stake in Core Molding Technologies during the 3rd quarter worth about $2,689,000. Teton Advisors LLC purchased a new position in shares of Core Molding Technologies during the 3rd quarter valued at about $1,744,000. 22NW LP lifted its holdings in shares of Core Molding Technologies by 16.5% in the 3rd quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after buying an additional 31,516 shares during the period. Royce & Associates LP lifted its holdings in shares of Core Molding Technologies by 17.3% in the 3rd quarter. Royce & Associates LP now owns 231,522 shares of the industrial products company’s stock valued at $4,758,000 after buying an additional 34,188 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Core Molding Technologies by 17.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock worth $3,973,000 after buying an additional 30,062 shares during the last quarter. 58.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research lowered shares of 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 shares of Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.