Sei Investments Co. raised its stake in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT – Free Report) by 112.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 225,532 shares of the industrial products company’s stock after purchasing an additional 119,457 shares during the period. Sei Investments Co.’s holdings in Core Molding Technologies were worth $5,052,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Diamond Hill Capital Management Inc. raised its stake in shares of Core Molding Technologies by 17.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock worth $3,973,000 after buying an additional 30,062 shares during the period. Franklin Resources Inc. bought a new position in shares of Core Molding Technologies during the 3rd quarter valued at approximately $211,000. Geode Capital Management LLC increased its holdings in Core Molding Technologies by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 183,910 shares of the industrial products company’s stock worth $3,051,000 after acquiring an additional 4,332 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Core Molding Technologies by 0.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 107,484 shares of the industrial products company’s stock worth $2,155,000 after acquiring an additional 967 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Core Molding Technologies by 1.9% during the 4th quarter. Empowered Funds LLC now owns 51,283 shares of the industrial products company’s stock worth $1,028,000 after acquiring an additional 967 shares during the period. Hedge funds and other institutional investors own 58.79% of the company’s stock.
Analysts Set New Price Targets
Separately, Zacks Research raised shares of Core Molding Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.00.
Insider Activity
In other news, Director Thomas R. Cellitti sold 2,495 shares of Core Molding Technologies stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $24.00, for a total transaction of $59,880.00. Following the sale, the director owned 93,818 shares in the company, valued at $2,251,632. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 9,900 shares of company stock worth $242,320 in the last quarter. Company insiders own 11.20% of the company’s stock.
Core Molding Technologies Price Performance
Shares of Core Molding Technologies stock opened at $24.55 on Wednesday. The company has a market capitalization of $218.50 million, a price-to-earnings ratio of 21.92 and a beta of 0.44. The company has a quick ratio of 1.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $23.84 and its 200-day simple moving average is $22.57. Core Molding Technologies Inc has a 52 week low of $16.50 and a 52 week high of $28.69.
Core Molding Technologies (NYSEAMERICAN:CMT – Get Free Report) last issued its earnings results on Tuesday, August 4th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.18. Core Molding Technologies had a return on equity of 6.15% and a net margin of 3.55%.The company had revenue of $62.73 million for the quarter, compared to the consensus estimate of $60.05 million. As a group, analysts expect that Core Molding Technologies Inc will post 1.07 earnings per share for the current fiscal year.
Core Molding Technologies Profile
Core Molding Technologies is a publicly traded manufacturer specializing in engineered composite and polymer solutions for a wide array of industrial applications. The company’s core business includes the design, tooling and high-volume production of fiberglass-reinforced plastics, advanced polyurethane systems, structural composites and specialty coatings. Its products find use in commercial vehicles, off-highway equipment, defense, power sports, recreation and industrial markets.
Core Molding offers end-to-end services ranging from digital design and prototyping to mold fabrication, process development and full-scale manufacturing.
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