Core Molding Technologies (NYSEAMERICAN:CMT) Stock Passes Above Fifty Day Moving Average – What’s Next?

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) shares crossed 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 $16.40. Core Molding Technologies shares last traded at $16.13, with a volume of 19,801 shares trading hands.

Analysts Set New Price Targets

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

Core Molding Technologies Trading Down 1.1 %

The stock has a market cap of $144.52 million, a price-to-earnings ratio of 9.11 and a beta of 1.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.41.

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

Insider Buying and Selling at Core Molding Technologies

In other Core Molding Technologies news, CFO John P. Zimmer sold 13,653 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $18.30, for a total transaction of $249,849.90. Following the sale, the chief financial officer now owns 115,559 shares of the company’s stock, valued at $2,114,729.70. This represents a 10.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David L. Duvall sold 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $18.29, for a total transaction of $365,800.00. Following the completion of the transaction, the chief executive officer now directly owns 338,227 shares of the company’s stock, valued at approximately $6,186,171.83. This represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,749 shares of company stock valued at $690,758. 13.10% of the stock is currently owned by company insiders.

Institutional Trading of Core Molding Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Core Molding Technologies by 1.6% during the third quarter. Geode Capital Management LLC now owns 174,999 shares of the industrial products company’s stock valued at $3,012,000 after acquiring an additional 2,737 shares during the period. State Street Corp lifted its stake in shares of Core Molding Technologies by 0.8% during the third quarter. State Street Corp now owns 157,430 shares of the industrial products company’s stock valued at $2,709,000 after acquiring an additional 1,267 shares during the period. Walleye Capital LLC bought a new position in Core Molding Technologies in the third quarter valued at about $195,000. Finally, MetLife Investment Management LLC increased its position in Core Molding Technologies by 131.0% in the third quarter. MetLife Investment Management LLC now owns 4,460 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 2,529 shares during the period. 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.