Core Molding Technologies Inc (NYSEAMERICAN:CMT – Get Free Report) Director Thomas Cellitti sold 900 shares of Core Molding Technologies stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $24.23, for a total transaction of $21,807.00. Following the sale, the director directly owned 101,393 shares in the company, valued at approximately $2,456,752.39. This trade represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Core Molding Technologies Trading Down 5.6%
Shares of CMT opened at $23.43 on Wednesday. Core Molding Technologies Inc has a 52-week low of $16.12 and a 52-week high of $28.69. The company has a quick ratio of 1.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $24.78 and its two-hundred day moving average is $21.57. The stock has a market cap of $208.53 million, a PE ratio of 20.92 and a beta of 0.44.
Core Molding Technologies announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Analysts Set New Price Targets
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Core Molding Technologies by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 391,207 shares of the industrial products company’s stock valued at $8,763,000 after acquiring an additional 2,922 shares during the last quarter. Royce & Associates LP boosted its position in shares of Core Molding Technologies by 1.9% during the 4th quarter. Royce & Associates LP now owns 235,985 shares of the industrial products company’s stock valued at $4,731,000 after acquiring an additional 4,463 shares during the last quarter. Sei Investments Co. boosted its position in shares of Core Molding Technologies by 112.6% during the 1st quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company’s stock valued at $5,052,000 after acquiring an additional 119,457 shares during the last quarter. 22NW LP boosted its position in shares of Core Molding Technologies by 16.5% during the 3rd quarter. 22NW LP now owns 222,738 shares of the industrial products company’s stock valued at $4,577,000 after acquiring an additional 31,516 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in Core Molding Technologies by 17.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock valued at $3,973,000 after buying an additional 30,062 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.
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.
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