Core Molding Technologies (NYSEAMERICAN:CMT) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Core Molding Technologies (NYSEAMERICAN:CMT) from a buy rating to a strong-buy rating in a report published on Tuesday morning.

Core Molding Technologies Trading Up 0.8 %

Shares of CMT opened at $18.42 on Tuesday. The stock has a market capitalization of $168.36 million, a P/E ratio of 8.86 and a beta of 1.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.44 and a quick ratio of 1.88. Core Molding Technologies has a 52-week low of $14.64 and a 52-week high of $30.09.

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

Insiders Place Their Bets

In other news, CEO David L. Duvall sold 17,513 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $20.25, for a total transaction of $354,638.25. Following the completion of the transaction, the chief executive officer now owns 389,577 shares in the company, valued at approximately $7,888,934.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Core Molding Technologies news, Director Ralph O. Hellmold sold 2,335 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $19.06, for a total transaction of $44,505.10. Following the sale, the director now directly owns 30,913 shares of the company’s stock, valued at approximately $589,201.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David L. Duvall sold 17,513 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $20.25, for a total value of $354,638.25. Following the completion of the sale, the chief executive officer now owns 389,577 shares of the company’s stock, valued at approximately $7,888,934.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,726 shares of company stock worth $850,887. 13.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its stake in Core Molding Technologies by 9.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 168,168 shares of the industrial products company’s stock valued at $2,681,000 after acquiring an additional 14,181 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Core Molding Technologies by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,724 shares of the industrial products company’s stock worth $585,000 after acquiring an additional 1,856 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Core Molding Technologies by 187.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 76,321 shares of the industrial products company’s stock valued at $1,445,000 after acquiring an additional 49,764 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Core Molding Technologies in the 1st quarter worth approximately $155,000. Finally, Vanguard Group Inc. grew its holdings in Core Molding Technologies by 12.8% during the first quarter. Vanguard Group Inc. now owns 434,726 shares of the industrial products company’s stock valued at $8,229,000 after purchasing an additional 49,501 shares during 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.