Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) Sees Large Decrease in Short Interest

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 288,300 shares, a drop of 9.2% from the June 30th total of 317,400 shares. Based on an average daily volume of 38,200 shares, the short-interest ratio is presently 7.5 days. Currently, 3.6% of the company’s shares are short sold.

Core Molding Technologies Price Performance

NYSEAMERICAN:CMT traded down $0.56 on Thursday, reaching $17.89. The company’s stock had a trading volume of 42,182 shares, compared to its average volume of 46,886. Core Molding Technologies has a 12-month low of $14.64 and a 12-month high of $30.09. The company has a quick ratio of 1.88, a current ratio of 2.44 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $163.51 million, a P/E ratio of 8.86 and a beta of 1.69.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its earnings results on Tuesday, May 7th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.17. Core Molding Technologies had a return on equity of 13.63% and a net margin of 5.42%. The company had revenue of $78.15 million during the quarter, compared to the consensus estimate of $78.69 million. Equities analysts expect that Core Molding Technologies will post 1.6 EPS for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Core Molding Technologies

In other news, CFO John P. Zimmer sold 6,595 shares of Core Molding Technologies stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $19.69, for a total transaction of $129,855.55. Following the completion of the sale, the chief financial officer now owns 157,628 shares of the company’s stock, valued at $3,103,695.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ralph O. Hellmold sold 1,696 shares of Core Molding Technologies stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $19.17, for a total transaction of $32,512.32. Following the transaction, the director now directly owns 33,248 shares of the company’s stock, valued at $637,364.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO John P. Zimmer sold 6,595 shares of Core Molding Technologies stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $19.69, for a total value of $129,855.55. Following the completion of the transaction, the chief financial officer now owns 157,628 shares in the company, valued at $3,103,695.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,726 shares of company stock worth $850,887. 13.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Core Molding Technologies

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Core Molding Technologies by 1,648.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 106,161 shares of the industrial products company’s stock worth $1,967,000 after purchasing an additional 100,091 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Core Molding Technologies by 187.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 76,321 shares of the industrial products company’s stock valued at $1,445,000 after buying an additional 49,764 shares during the last quarter. Vanguard Group Inc. raised its stake in 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 worth $8,229,000 after acquiring an additional 49,501 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in Core Molding Technologies in the fourth quarter valued at $625,000. Finally, Gendell Jeffrey L grew its holdings in shares of Core Molding Technologies by 38.4% during the fourth quarter. Gendell Jeffrey L now owns 76,770 shares of the industrial products company’s stock worth $1,423,000 after purchasing an additional 21,290 shares during the last quarter. 58.79% of the stock is owned by hedge funds and other institutional investors.

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.