Core Molding Technologies (NYSEAMERICAN:CMT) Share Price Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Core Molding Technologies shares have recently dropped below the 50-day moving average of $19.46, trading as low as $18.41.
• Insider trading activity included the sale of 6,897 shares by Director Thomas R. Cellitti and the sale of 50,000 shares by CEO David L. Duvall, indicating significant decreases in their ownership stakes.
• Institutional investors hold a substantial portion of the company, with 58.79% of the stock owned by hedge funds and institutional investors, reflecting growing interest in Core Molding Technologies.

Shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT - ) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $19.46 and traded as low as $18.41. Core Molding Technologies shares last traded at $18.49, with a volume of 14,961 shares changing hands.

Core Molding Technologies Price Performance

The company has a current ratio of 2.85, a quick ratio of 2.36 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $163.82 million, a price-to-earnings ratio of 17.12 and a beta of 0.88. The company's 50 day moving average is $19.46 and its 200-day moving average is $17.27.

Insider Buying and Selling

In related news, Director Thomas R. Cellitti sold 6,897 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $18.89, for a total value of $130,284.33. Following the sale, the director owned 99,268 shares in the company, valued at approximately $1,875,172.52. This represents a 6.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David L. Duvall sold 50,000 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $20.32, for a total value of $1,016,000.00. Following the sale, the chief executive officer directly owned 148,780 shares of the company's stock, valued at $3,023,209.60. This represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,020 shares of company stock valued at $1,323,561. 10.00% of the stock is owned by insiders.

Institutional Trading of Core Molding Technologies

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in Core Molding Technologies by 6,568.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,667 shares of the industrial products company's stock valued at $28,000 after buying an additional 1,642 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Core Molding Technologies by 18.6% in the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company's stock valued at $78,000 after acquiring an additional 738 shares during the period. GAMMA Investing LLC grew its stake in shares of Core Molding Technologies by 38,585.0% in the first quarter. GAMMA Investing LLC now owns 7,737 shares of the industrial products company's stock valued at $118,000 after acquiring an additional 7,717 shares in the last quarter. Rhumbline Advisers increased its position in Core Molding Technologies by 8.9% during the second quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company's stock worth $210,000 after acquiring an additional 1,038 shares during the period. Finally, Nuveen LLC bought a new position in Core Molding Technologies during the first quarter worth about $258,000. 58.79% of the stock is owned by institutional investors and hedge funds.

About Core Molding Technologies

Core Molding Technologies, Inc, together with its subsidiaries, operates as a molder of thermoplastic and thermoset structural products. The company offers a range of manufacturing processes that include compression molding of sheet molding compound, resin transfer molding, liquid molding of dicyclopentadiene, spray-up and hand-lay-up, direct long-fiber thermoplastics, and structural foam and structural web injection molding.

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