Core Molding Technologies (NYSEAMERICAN:CMT) Stock Passes Above 50 Day Moving Average – Here’s Why

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.00 and traded as high as $16.73. Core Molding Technologies shares last traded at $16.67, with a volume of 128,495 shares.

Wall Street Analysts Forecast Growth

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

Core Molding Technologies Stock Performance

The company has a quick ratio of 1.86, a current ratio of 2.28 and a debt-to-equity ratio of 0.14. The company has a market cap of $146.03 million, a P/E ratio of 8.01 and a beta of 1.67.

Core Molding Technologies (NYSEAMERICAN:CMT) last issued its earnings results on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $88.74 million during the quarter, compared to analyst estimates of $78.75 million. On average, sell-side analysts forecast that Core Molding Technologies, Inc. will post 1.53 EPS for the current year.

Insider Transactions at Core Molding Technologies

In other Core Molding Technologies news, EVP Renee R. Anderson sold 11,380 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $17.89, for a total value of $203,588.20. Following the completion of the sale, the executive vice president now directly owns 52,799 shares in the company, valued at approximately $944,574.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Renee R. Anderson sold 11,380 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $17.89, for a total value of $203,588.20. Following the completion of the sale, the executive vice president now owns 52,799 shares of the company’s stock, valued at approximately $944,574.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John P. Zimmer sold 13,653 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $18.30, for a total transaction of $249,849.90. Following the transaction, the chief financial officer now owns 115,559 shares in the company, valued at approximately $2,114,729.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,411 shares of company stock valued at $1,333,020. 13.10% of the stock is currently owned by company insiders.

Institutional Trading of Core Molding Technologies

Several hedge funds have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new stake in Core Molding Technologies in the second quarter valued at about $27,000. LSV Asset Management purchased a new position in shares of Core Molding Technologies in the 2nd quarter valued at approximately $36,000. Public Employees Retirement System of Ohio acquired a new stake in Core Molding Technologies in the 1st quarter worth approximately $155,000. Rhumbline Advisers grew its position in Core Molding Technologies by 8.4% during the 2nd quarter. Rhumbline Advisers now owns 11,174 shares of the industrial products company’s stock worth $178,000 after purchasing an additional 866 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Core Molding Technologies by 4.9% during the 1st quarter. BNP Paribas Financial Markets now owns 12,593 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 593 shares in the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

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.