Core Molding Technologies (NYSEAMERICAN:CMT) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT)’s stock price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.00 and traded as high as $17.34. Core Molding Technologies shares last traded at $17.32, with a volume of 23,813 shares traded.

Wall Street Analysts Forecast Growth

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

Core Molding Technologies Trading Down 1.2 %

The firm has a market capitalization of $149.88 million, a P/E ratio of 9.01 and a beta of 1.67. 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 announced its earnings results on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.31. The business had revenue of $88.74 million during the quarter, compared to analysts’ expectations of $78.75 million. Core Molding Technologies had a return on equity of 12.14% and a net margin of 5.11%. On average, analysts expect that Core Molding Technologies, Inc. will post 1.53 EPS for the current year.

Insider Activity

In other Core Molding Technologies news, EVP Renee R. Anderson sold 11,380 shares of Core Molding Technologies 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 transaction, the executive vice president now owns 52,799 shares in the company, valued at approximately $944,574.11. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 on Monday, August 19th. The stock was sold at an average price of $17.89, for a total transaction of $203,588.20. Following the completion of the sale, the executive vice president now directly owns 52,799 shares of the company’s stock, valued at $944,574.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John P. Zimmer sold 2,000 shares of Core Molding Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $18.64, for a total value of $37,280.00. Following the completion of the transaction, the chief financial officer now directly owns 129,212 shares in the company, valued at $2,408,511.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,411 shares of company stock worth $1,333,020. Corporate insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Core Molding Technologies

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in Core Molding Technologies by 45.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 153,987 shares of the industrial products company’s stock valued at $2,915,000 after acquiring an additional 47,826 shares in the last quarter. Denali Advisors LLC grew its position in Core Molding Technologies by 26.7% during the first quarter. Denali Advisors LLC now owns 24,700 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 5,200 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Core Molding Technologies by 4.9% in the 1st quarter. BNP Paribas Financial Markets now owns 12,593 shares of the industrial products company’s stock valued at $238,000 after buying an additional 593 shares during the period. Empowered Funds LLC lifted its position in Core Molding Technologies by 7.7% in the 1st quarter. Empowered Funds LLC now owns 32,100 shares of the industrial products company’s stock worth $608,000 after buying an additional 2,287 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Core Molding Technologies by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 434,726 shares of the industrial products company’s stock valued at $8,229,000 after buying an additional 49,501 shares during the period. Hedge funds and other institutional investors 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.