Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) Sees Significant Decrease in Short Interest

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 178,800 shares, a decline of 7.2% from the August 15th total of 192,700 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily trading volume, of 42,600 shares, the days-to-cover ratio is presently 4.2 days.

Core Molding Technologies Trading Down 0.4 %

Shares of CMT stock traded down $0.08 during trading hours on Wednesday, hitting $18.00. 2,103 shares of the company were exchanged, compared to its average volume of 45,872. The firm has a market cap of $157.68 million, a P/E ratio of 8.66 and a beta of 1.67. Core Molding Technologies has a 52-week low of $14.64 and a 52-week high of $30.09. The company has a quick ratio of 1.86, a current ratio of 2.28 and a debt-to-equity ratio of 0.14.

Core Molding Technologies (NYSEAMERICAN:CMT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.31. Core Molding Technologies had a net margin of 5.11% and a return on equity of 12.14%. The company had revenue of $88.74 million for the quarter, compared to analysts’ expectations of $78.75 million. Sell-side analysts anticipate that Core Molding Technologies will post 1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Core Molding Technologies from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th.

Insider Activity at Core Molding Technologies

In other Core Molding Technologies news, CEO David L. Duvall sold 11,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $17.94, for a total value of $197,340.00. Following the sale, the chief executive officer now directly owns 376,377 shares in the company, valued at $6,752,203.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David L. Duvall sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $17.94, for a total transaction of $197,340.00. Following the sale, the chief executive officer now owns 376,377 shares of the company’s stock, valued at $6,752,203.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Renee R. Anderson sold 13,282 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.17, for a total transaction of $241,333.94. Following the transaction, the executive vice president now owns 64,517 shares in the company, valued at $1,172,273.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,411 shares of company stock valued at $1,333,020. 13.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in Core Molding Technologies during the fourth quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Core Molding Technologies in the second quarter valued at $27,000. LSV Asset Management purchased a new position in Core Molding Technologies during the 2nd quarter valued at about $36,000. Public Employees Retirement System of Ohio bought a new stake in shares of Core Molding Technologies in the 1st quarter valued at about $155,000. Finally, Rhumbline Advisers lifted its stake in shares of Core Molding Technologies by 8.4% during the second quarter. Rhumbline Advisers now owns 11,174 shares of the industrial products company’s stock worth $178,000 after buying an additional 866 shares during the period. Institutional investors own 58.79% of the company’s stock.

Core Molding Technologies Company Profile

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.