Core Molding Technologies (NYSEAMERICAN:CMT) Downgraded to “Buy” at StockNews.com

Core Molding Technologies (NYSEAMERICAN:CMT) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

Core Molding Technologies Stock Down 1.9 %

Shares of NYSEAMERICAN:CMT traded down $0.37 during trading on Monday, hitting $19.00. 40,329 shares of the company were exchanged, compared to its average volume of 52,703. Core Molding Technologies has a fifty-two week low of $16.00 and a fifty-two week high of $30.09. The firm has a market capitalization of $173.85 million, a price-to-earnings ratio of 8.23 and a beta of 1.67. The company has a quick ratio of 1.75, a current ratio of 2.23 and a debt-to-equity ratio of 0.15.

Core Molding Technologies (NYSEAMERICAN:CMT) last announced its quarterly earnings results on Tuesday, March 12th. The industrial products company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.19. The firm had revenue of $73.78 million during the quarter, compared to analysts’ expectations of $69.60 million. Core Molding Technologies had a net margin of 5.68% and a return on equity of 15.74%. Equities research analysts expect that Core Molding Technologies will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Core Molding Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. Denali Advisors LLC lifted its holdings in shares of 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 worth $468,000 after buying an additional 5,200 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Core Molding Technologies by 45.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 153,987 shares of the industrial products company’s stock worth $2,915,000 after acquiring an additional 47,826 shares during the period. Gendell Jeffrey L raised its stake in Core Molding Technologies by 38.4% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Core Molding Technologies by 82.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,761 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 797 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in shares of Core Molding Technologies by 8.8% during the 4th quarter. Hillsdale Investment Management Inc. now owns 133,550 shares of the industrial products company’s stock worth $2,475,000 after purchasing an additional 10,800 shares in the last quarter. Institutional investors and hedge funds own 58.79% of the company’s stock.

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.