Key Points
- Director Thomas Cellitti sold 2,000 shares of Core Molding Technologies on June 15 at an average price of $25.07, totaling about $50,140. After the sale, he still held 96,393 shares.
- The company’s stock was down 0.5% and opened at $23.31, while trading near its 50-day moving average of $24.80 and below its 52-week high of $28.69.
- Core Molding Technologies has an active share buyback authorization, and institutional ownership remains high at 58.79%. Analyst sentiment is mixed, with MarketBeat showing an overall Hold rating and a $24.00 average price target.
Core Molding Technologies Inc (NYSEAMERICAN:CMT - Get Free Report) Director Thomas Cellitti sold 2,000 shares of Core Molding Technologies stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.07, for a total transaction of $50,140.00. Following the sale, the director owned 96,393 shares in the company, valued at $2,416,572.51. This represents a 2.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Core Molding Technologies Stock Down 0.5%
CMT opened at $23.31 on Thursday. Core Molding Technologies Inc has a fifty-two week low of $16.12 and a fifty-two week high of $28.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95. The firm's fifty day moving average price is $24.80 and its two-hundred day moving average price is $21.60. The company has a market capitalization of $207.46 million, a P/E ratio of 20.81 and a beta of 0.44.
Core Molding Technologies announced that its board 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 usually a sign that the company's board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Core Molding Technologies
Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of Core Molding Technologies by 5.1% in the 4th quarter. Barclays PLC now owns 14,448 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 695 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 763 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of 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 purchasing an additional 803 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Core Molding Technologies by 3.5% in the 4th quarter. Strs Ohio now owns 26,600 shares of the industrial products company's stock valued at $533,000 after purchasing an additional 900 shares in the last quarter. Institutional investors and hedge funds own 58.79% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Core Molding Technologies from a "hold" rating to a "strong sell" rating in a research note 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 stock a "buy" rating in a research note on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Core Molding Technologies has an average rating of "Hold" and an average target price of $24.00.
View Our Latest Report on CMT
Core Molding Technologies Company Profile
(
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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