Short Interest in Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) Drops By 8.9%

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 162,900 shares, a drop of 8.9% from the August 31st total of 178,800 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 43,700 shares, the days-to-cover ratio is presently 3.7 days.

Insider Transactions at Core Molding Technologies

In other news, CFO John P. Zimmer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $18.64, for a total transaction of $37,280.00. Following the completion of the sale, the chief financial officer now owns 129,212 shares of the company’s stock, valued at $2,408,511.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO John P. Zimmer sold 2,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $18.64, for a total transaction of $37,280.00. Following the completion of the sale, the chief financial officer now owns 129,212 shares in the company, valued at $2,408,511.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David L. Duvall sold 11,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $17.94, for a total value of $197,340.00. Following the sale, the chief executive officer now owns 376,377 shares of the company’s stock, valued at approximately $6,752,203.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,411 shares of company stock valued at $1,333,020. 13.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Core Molding Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings 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 worth $238,000 after buying an additional 593 shares during the period. Rhumbline Advisers grew its position in Core Molding Technologies by 8.4% during the second quarter. Rhumbline Advisers now owns 11,174 shares of the industrial products company’s stock valued at $178,000 after acquiring an additional 866 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Core Molding Technologies during the second quarter valued at approximately $27,000. Bank of New York Mellon Corp grew its holdings in shares of Core Molding Technologies by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 36,724 shares of the industrial products company’s stock worth $585,000 after purchasing an additional 1,856 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Core Molding Technologies by 1.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 135,281 shares of the industrial products company’s stock worth $2,156,000 after purchasing an additional 2,039 shares during the last quarter. Hedge funds and other institutional investors own 58.79% of the company’s stock.

Analyst Ratings Changes

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

Core Molding Technologies Stock Down 1.2 %

CMT traded down $0.20 during trading on Tuesday, hitting $17.01. 4,782 shares of the stock traded hands, compared to its average volume of 45,346. Core Molding Technologies has a twelve month low of $14.64 and a twelve month high of $30.09. The company has a market cap of $149.01 million, a P/E ratio of 8.19 and a beta of 1.67. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 1.86.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.31. Core Molding Technologies had a net margin of 5.11% and a return on equity of 12.14%. The company had revenue of $88.74 million for the quarter, compared to analysts’ expectations of $78.75 million. Research analysts forecast that Core Molding Technologies will post 1.53 EPS for the current fiscal year.

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.