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

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 316,900 shares, a decline of 10.4% from the May 15th total of 353,800 shares. Based on an average daily volume of 44,300 shares, the short-interest ratio is currently 7.2 days. Approximately 4.0% of the shares of the company are sold short.

Core Molding Technologies Trading Up 0.3 %

NYSEAMERICAN CMT traded up $0.05 on Tuesday, hitting $16.74. The company’s stock had a trading volume of 39,533 shares, compared to its average volume of 47,222. Core Molding Technologies has a 52-week low of $16.00 and a 52-week high of $30.09. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.88 and a current ratio of 2.44. The stock has a market cap of $153.00 million, a P/E ratio of 8.05 and a beta of 1.67.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its quarterly earnings data on Tuesday, May 7th. The industrial products company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.17. Core Molding Technologies had a return on equity of 13.63% and a net margin of 5.42%. The business had revenue of $78.15 million during the quarter, compared to analysts’ expectations of $78.69 million. On average, analysts forecast that Core Molding Technologies will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Core Molding Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday.

Insiders Place Their Bets

In other news, Director Ralph O. Hellmold sold 1,696 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $19.17, for a total transaction of $32,512.32. Following the transaction, the director now owns 33,248 shares of the company’s stock, valued at approximately $637,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Ralph O. Hellmold sold 1,696 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $19.17, for a total transaction of $32,512.32. Following the sale, the director now directly owns 33,248 shares in the company, valued at approximately $637,364.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Duvall sold 17,513 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $20.25, for a total value of $354,638.25. Following the completion of the transaction, the chief executive officer now owns 389,577 shares in the company, valued at $7,888,934.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,726 shares of company stock valued at $850,887. Insiders own 13.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Core Molding Technologies by 4.9% during the first 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. Tower Research Capital LLC TRC boosted its position in shares of Core Molding Technologies by 82.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 797 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Core Molding Technologies during the fourth quarter valued at approximately $27,000. Barclays PLC boosted its position in shares of Core Molding Technologies by 53.1% during the third quarter. Barclays PLC now owns 4,375 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 1,517 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Core Molding Technologies by 7.7% during the first quarter. Empowered Funds LLC now owns 32,100 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 2,287 shares in the last quarter. Hedge funds and other 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.