Key Points
- Director Thomas Cellitti sold 3,000 shares of Core Molding Technologies on June 12 at an average price of $24.77, totaling about $74,310. His holdings fell by 2.96% to 98,393 shares.
- The stock was up 0.8% and last traded at $24.83, giving the company a market cap of about $221 million. It has traded between $16.12 and $28.69 over the past year.
- Analysts currently have a Hold consensus on CMT, with an average price target of $24.00, while the company also has an authorized share repurchase program in place.
Core Molding Technologies Inc (NYSEAMERICAN:CMT - Get Free Report) Director Thomas Cellitti sold 900 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $24.23, for a total transaction of $21,807.00. Following the completion of the sale, the director owned 101,393 shares of the company's stock, valued at approximately $2,456,752.39. This trade represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Core Molding Technologies Stock Up 0.8%
Shares of NYSEAMERICAN:CMT opened at $24.83 on Tuesday. 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 company has a market cap of $220.99 million, a PE ratio of 22.17 and a beta of 0.44. Core Molding Technologies Inc has a 52 week low of $16.12 and a 52 week high of $28.69. The firm has a 50 day simple moving average of $24.75 and a 200 day simple moving average of $21.54.
Core Molding Technologies announced that its Board of Directors 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 often an indication that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Several brokerages recently commented on CMT. Roth Mkm upped 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. Zacks Research downgraded shares of Core Molding Technologies from a "hold" rating to a "strong sell" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $24.00.
Get Our Latest Analysis on Core Molding Technologies
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in Core Molding Technologies by 83.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company's stock valued at $34,000 after buying an additional 763 shares during the period. NewEdge Advisors LLC increased its stake in Core Molding Technologies by 70.8% in the 4th 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 acquired a new position in Core Molding Technologies in the 4th quarter valued at approximately $43,000. JPMorgan Chase & Co. increased its stake in 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 buying an additional 738 shares during the period. Finally, Wells Fargo & Company MN increased its stake in 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 valued at $202,000 after buying an additional 2,593 shares during the period. Institutional investors and hedge funds own 58.79% of the company's stock.
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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