Empowered Funds LLC Purchases New Holdings in Core Molding Technologies Inc $CMT

Empowered Funds LLC bought a new position in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) during the second quarter, according to its most recent filing with the SEC. The fund bought 58,542 shares of the industrial products company’s stock, valued at approximately $1,382,000. Empowered Funds LLC owned 0.66% of Core Molding Technologies at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in 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 worth $34,000 after buying an additional 763 shares during the period. NewEdge Advisors LLC raised its position in shares of Core Molding Technologies by 70.8% during the 4th quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock valued at $39,000 after buying an additional 803 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Core Molding Technologies during the fourth quarter valued at about $43,000. Global Retirement Partners LLC bought a new stake in Core Molding Technologies in the 2nd quarter worth approximately $59,000. Finally, 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. Hedge funds and other institutional investors own 58.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Ralph O. Hellmold sold 4,268 shares of the stock in a transaction 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 sale, the director directly owned 33,501 shares of the company’s stock, valued at $864,995.82. This represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas R. Cellitti sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $24.77, for a total value of $74,310.00. Following the sale, the director directly owned 98,393 shares in the company, valued at approximately $2,437,194.61. This represents a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 14,168 shares of company stock valued at $352,520. Company insiders own 11.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Roth Capital restated a “buy” rating and set a $30.00 target price on shares of Core Molding Technologies in a report on Wednesday, August 5th. Zacks Research upgraded shares of Core Molding Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Core Molding Technologies Price Performance

CMT stock opened at $24.12 on Friday. Core Molding Technologies Inc has a 1 year low of $16.60 and a 1 year high of $28.69. The company has a market cap of $213.46 million, a P/E ratio of 28.05 and a beta of 0.45. The stock’s fifty day moving average price is $24.54 and its 200-day moving average price is $23.49.

Core Molding Technologies (NYSEAMERICAN:CMT) last announced its 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 return on equity of 4.64% and a net margin of 2.89%. As a group, analysts expect that Core Molding Technologies Inc will post 1.04 earnings per share for the current year.

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.