Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) Sees Significant Drop in Short Interest

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

Insider Buying and Selling

In related news, CEO David L. Duvall sold 11,000 shares of the company’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 transaction, the chief executive officer now directly owns 376,377 shares of the company’s stock, valued at approximately $6,752,203.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO David L. Duvall sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $17.94, for a total value of $197,340.00. Following the transaction, the chief executive officer now directly owns 376,377 shares of the company’s stock, valued at approximately $6,752,203.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Renee R. Anderson sold 13,282 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.17, for a total transaction of $241,333.94. Following the completion of the transaction, the executive vice president now directly owns 64,517 shares in the company, valued at $1,172,273.89. The disclosure for this sale can be found here. Insiders have sold a total of 73,411 shares of company stock valued at $1,333,020 over the last quarter. 13.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Gendell Jeffrey L boosted its stake in Core Molding Technologies by 38.4% in 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 in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 last quarter. Denali Advisors LLC raised its position 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 acquiring an additional 5,200 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Core Molding Technologies by 4.9% during the first quarter. BNP Paribas Financial Markets now owns 12,593 shares of the industrial products company’s stock worth $238,000 after acquiring an additional 593 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Core Molding Technologies by 7.7% during the first quarter. Empowered Funds LLC now owns 32,100 shares of the industrial products company’s stock worth $608,000 after acquiring an additional 2,287 shares during the last quarter. 58.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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 Performance

CMT traded down $0.66 during trading hours on Tuesday, hitting $16.55. 19,601 shares of the stock were exchanged, compared to its average volume of 45,425. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.28 and a quick ratio of 1.86. The stock has a market capitalization of $144.98 million, a PE ratio of 8.19 and a beta of 1.67. Core Molding Technologies has a 12 month low of $14.64 and a 12 month high of $30.09.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its earnings results 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 return on equity of 12.14% and a net margin of 5.11%. The firm had revenue of $88.74 million for the quarter, compared to analyst estimates of $78.75 million. Equities research analysts forecast that Core Molding Technologies will post 1.53 EPS for the current year.

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.