Core Molding Technologies (NYSEAMERICAN:CMT) Announces Quarterly Earnings Results

Key Points

• Core Molding Technologies exceeded quarterly expectations: It reported EPS of $0.39, beating the $0.21 consensus estimate, while revenue of $62.73 million surpassed expectations of $60.05 million.
• The stock rose to $25.56 during Tuesday trading, compared with a 52-week range of $16.50 to $28.69. The company reported a 3.55% net margin, 6.15% return on equity and low debt-to-equity ratio of 0.11.
• Analyst sentiment remains moderately positive: Zacks upgraded the stock to “hold,” while the two tracked analysts collectively assign a “Moderate Buy” rating and an average price target of $24.00; insiders sold 9,900 shares in the last quarter.

Core Molding Technologies (NYSEAMERICAN:CMT - Get Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.18, FiscalAI reports. 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 during the quarter, compared to analysts' expectations of $60.05 million.

Core Molding Technologies Price Performance

NYSEAMERICAN CMT traded up $1.56 during midday trading on Tuesday, hitting $25.56. The company had a trading volume of 3,810 shares, compared to its average volume of 28,786. The firm has a 50-day moving average price of $23.82 and a 200-day moving average price of $22.53. The company has a market capitalization of $227.52 million, a PE ratio of 22.73 and a beta of 0.44. The company has a current ratio of 2.41, a quick ratio of 1.95 and a debt-to-equity ratio of 0.11. Core Molding Technologies has a twelve month low of $16.50 and a twelve month high of $28.69.

Insider Activity at Core Molding Technologies

In related news, Director Thomas R. Cellitti sold 3,000 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.77, for a total value of $74,310.00. Following the completion of the transaction, the director owned 98,393 shares of the company's stock, valued at $2,437,194.61. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 9,900 shares of company stock valued at $242,320 in the last quarter. 11.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core Molding Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of Core Molding Technologies by 83.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company's stock worth $34,000 after acquiring an additional 763 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Core Molding Technologies by 70.8% during the fourth quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company's stock worth $39,000 after purchasing an additional 803 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Core Molding Technologies during the fourth quarter worth $43,000. JPMorgan Chase & Co. boosted its holdings in shares of Core Molding Technologies by 18.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company's stock valued at $78,000 after purchasing an additional 738 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Core Molding Technologies by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company's stock valued at $202,000 after purchasing an additional 2,593 shares during the last quarter. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research upgraded Core Molding Technologies from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Core Molding Technologies currently has an average rating of "Moderate Buy" and an average price target of $24.00.

About Core Molding Technologies

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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