Core Molding Technologies (NYSEAMERICAN:CMT) Share Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Core Molding Technologies stock has recently surpassed its 50-day moving average of $17.07, trading at a high of $18.34.
• CEO David L. Duvall sold 11,300 shares at an average price of $16.02, decreasing his ownership percentage in the company.
• Institutional investors have significantly increased their holdings in Core Molding Technologies, with GAMMA Investing LLC boosting its stake by over 38,000% in the first quarter.

Core Molding Technologies Inc (NYSEAMERICAN:CMT - Get Free Report) shares passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.07 and traded as high as $18.34. Core Molding Technologies shares last traded at $18.34, with a volume of 33,724 shares trading hands.

Core Molding Technologies Stock Performance

The company has a market cap of $169.76 million, a P/E ratio of 17.74 and a beta of 0.79. The company's fifty day simple moving average is $17.28. The company has a current ratio of 2.85, a quick ratio of 2.36 and a debt-to-equity ratio of 0.12.

Insiders Place Their Bets

In other Core Molding Technologies news, Director Thomas R. Cellitti sold 6,897 shares of Core Molding Technologies stock in a transaction on Monday, August 25th. The shares were sold at an average price of $18.89, for a total value of $130,284.33. Following the transaction, the director owned 99,268 shares in the company, valued at $1,875,172.52. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David L. Duvall sold 11,300 shares of Core Molding Technologies stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $16.02, for a total transaction of $181,026.00. Following the completion of the transaction, the chief executive officer owned 228,480 shares in the company, valued at approximately $3,660,249.60. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,740 shares of company stock worth $896,300. 10.00% of the stock is 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 business. Bridgeway Capital Management LLC lifted its holdings in shares of Core Molding Technologies by 4.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 98,874 shares of the industrial products company's stock valued at $1,640,000 after acquiring an additional 4,012 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Core Molding Technologies by 46.2% during the 2nd quarter. Quantinno Capital Management LP now owns 25,769 shares of the industrial products company's stock valued at $428,000 after acquiring an additional 8,146 shares in the last quarter. 22NW LP acquired a new position in shares of Core Molding Technologies during the 2nd quarter valued at $3,172,000. Rhumbline Advisers lifted its holdings in shares of Core Molding Technologies by 8.9% during the 2nd quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company's stock valued at $210,000 after acquiring an additional 1,038 shares in the last quarter. Finally, White Pine Capital LLC lifted its holdings in shares of Core Molding Technologies by 59.6% during the 2nd quarter. White Pine Capital LLC now owns 24,791 shares of the industrial products company's stock valued at $411,000 after acquiring an additional 9,260 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.