Core Molding Technologies (NYSEAMERICAN:CMT) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Core Molding Technologies Inc (NYSEAMERICAN:CMT) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $24.50 and traded as high as $25.55. Core Molding Technologies shares last traded at $25.05, with a volume of 26,012 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Roth Capital restated a “buy” rating and issued a $30.00 price objective on shares of Core Molding Technologies in a report on Wednesday, August 5th. Zacks Research raised Core Molding Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Core Molding Technologies Trading Down 0.4%

The company has a market capitalization of $217.98 million, a PE ratio of 28.64 and a beta of 0.45. The business has a fifty day moving average of $24.51 and a 200 day moving average of $23.42.

Core Molding Technologies (NYSEAMERICAN:CMT) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.18. The business had revenue of $62.73 million for the quarter, compared to analysts’ expectations of $60.05 million. Core Molding Technologies had a net margin of 2.89% and a return on equity of 4.64%. Equities analysts forecast that Core Molding Technologies Inc will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Core Molding Technologies news, Director Ralph O. Hellmold sold 4,268 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $25.82, for a total value of $110,199.76. Following the completion of the transaction, the director owned 33,501 shares of the company’s stock, valued at $864,995.82. This trade represents a 11.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas R. Cellitti sold 2,495 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $24.00, for a total transaction of $59,880.00. Following the completion of the transaction, the director owned 93,818 shares of the company’s stock, valued at approximately $2,251,632. This trade represents a 2.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,168 shares of company stock worth $352,520. 11.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Core Molding Technologies

A number of hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in shares of 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 worth $34,000 after buying an additional 763 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Core Molding Technologies by 70.8% in 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in Core Molding Technologies in the fourth quarter worth approximately $43,000. Global Retirement Partners LLC purchased a new position in Core Molding Technologies in the second quarter worth approximately $59,000. Finally, California State Teachers Retirement System grew its holdings in Core Molding Technologies by 512.8% during the 2nd quarter. California State Teachers Retirement System now owns 2,690 shares of the industrial products company’s stock worth $63,000 after acquiring an additional 2,251 shares in the last quarter. 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.