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

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 213,300 shares, a growth of 21.0% from the December 31st total of 176,300 shares. Based on an average daily volume of 41,100 shares, the short-interest ratio is currently 5.2 days. Approximately 2.6% of the shares of the stock are sold short.

Core Molding Technologies Price Performance

Shares of NYSEAMERICAN:CMT traded down $0.09 during midday trading on Friday, reaching $14.77. The company’s stock had a trading volume of 38,292 shares, compared to its average volume of 41,148. Core Molding Technologies has a 1 year low of $14.23 and a 1 year high of $21.00. The company has a quick ratio of 1.98, a current ratio of 2.41 and a debt-to-equity ratio of 0.14. The company has a market cap of $132.34 million, a P/E ratio of 8.34 and a beta of 1.76.

Core Molding Technologies (NYSEAMERICAN:CMT) last announced its quarterly earnings data on Tuesday, November 5th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.13. Core Molding Technologies had a net margin of 4.95% and a return on equity of 10.76%. The company had revenue of $72.99 million during the quarter, compared to analysts’ expectations of $71.57 million. Equities research analysts forecast that Core Molding Technologies will post 1.64 EPS for the current year.

Insiders Place Their Bets

In related news, CEO David L. Duvall sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $16.55, for a total value of $33,100.00. Following the sale, the chief executive officer now owns 284,381 shares of the company’s stock, valued at approximately $4,706,505.55. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John P. Zimmer sold 7,600 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $17.78, for a total value of $135,128.00. Following the sale, the chief financial officer now owns 107,959 shares in the company, valued at approximately $1,919,511.02. This trade represents a 6.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,190 shares of company stock worth $734,561. Corporate insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Core Molding Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in CMT. MetLife Investment Management LLC raised its stake in shares of Core Molding Technologies by 131.0% during the third quarter. MetLife Investment Management LLC now owns 4,460 shares of the industrial products company’s stock valued at $77,000 after purchasing an additional 2,529 shares during the period. Barclays PLC increased its stake in Core Molding Technologies by 278.9% during the 3rd quarter. Barclays PLC now owns 9,942 shares of the industrial products company’s stock worth $172,000 after buying an additional 7,318 shares during the period. Walleye Capital LLC acquired a new position in Core Molding Technologies in the 3rd quarter worth $195,000. Stoneridge Investment Partners LLC acquired a new position in Core Molding Technologies in the 4th quarter worth $189,000. Finally, White Pine Capital LLC purchased a new position in Core Molding Technologies in the 4th quarter valued at about $256,000. Institutional investors and hedge funds own 58.79% of the company’s stock.

About Core Molding Technologies

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.