Core Molding Technologies (NYSEAMERICAN:CMT) Posts Earnings Results, Beats Estimates By $0.18 EPS

Core Molding Technologies (NYSEAMERICAN:CMT) posted its quarterly earnings results on Tuesday. The industrial products company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.18, FiscalAI reports. The company had revenue of $62.73 million for the quarter, compared to the consensus estimate of $60.05 million. Core Molding Technologies had a net margin of 3.55% and a return on equity of 6.15%.

Core Molding Technologies Trading Up 6.5%

Shares of Core Molding Technologies stock traded up $1.56 during trading on Tuesday, hitting $25.56. The company’s stock had a trading volume of 3,810 shares, compared to its average volume of 28,786. The stock has a market cap of $227.52 million, a price-to-earnings ratio of 22.73 and a beta of 0.44. Core Molding Technologies has a 52 week low of $16.50 and a 52 week high of $28.69. The stock has a 50-day moving average price of $23.82 and a two-hundred day moving average price of $22.53. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.41 and a quick ratio of 1.95.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Core Molding Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Transactions at Core Molding Technologies

In related news, Director Thomas R. Cellitti sold 3,000 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $24.77, for a total transaction of $74,310.00. Following the completion of the transaction, the director directly owned 98,393 shares of the company’s stock, valued at $2,437,194.61. This trade represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 9,900 shares of company stock worth $242,320. 11.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core Molding Technologies

Several institutional investors and hedge funds have recently made changes to their positions in CMT. Barclays PLC raised its stake in Core Molding Technologies by 5.1% during the fourth quarter. Barclays PLC now owns 14,448 shares of the industrial products company’s stock worth $290,000 after buying an additional 695 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Core Molding Technologies by 18.6% during 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 last quarter. BNP Paribas Financial Markets boosted its position in Core Molding Technologies by 83.8% during the third quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 763 shares during the last quarter. NewEdge Advisors LLC boosted its position in Core Molding Technologies by 70.8% during the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 803 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in Core Molding Technologies by 1.9% during the 4th quarter. Empowered Funds LLC now owns 51,283 shares of the industrial products company’s stock worth $1,028,000 after acquiring an additional 967 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.

About Core Molding Technologies

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.