Bard Associates Inc. Invests $3.39 Million in Core Molding Technologies Inc $CMT

Key Points

• Bard Associates acquired 143,550 shares of Core Molding Technologies in the second quarter, investing approximately $3.39 million and taking a 1.62% stake.
• Core Molding Technologies reported quarterly EPS of $0.39, exceeding the $0.21 consensus estimate, while revenue of $62.73 million also surpassed expectations.
• Analyst sentiment is moderately positive: Roth Capital maintained a Buy rating with a $30 target, while the broader consensus is “Moderate Buy”; insiders, however, sold 14,168 shares worth about $352,520 over three months.

Bard Associates Inc. bought a new stake in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 143,550 shares of the industrial products company's stock, valued at approximately $3,388,000. Bard Associates Inc. owned approximately 1.62% of Core Molding Technologies at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake 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 increased its stake in shares of Core Molding Technologies by 70.8% in the 4th quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 803 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Core Molding Technologies in the 4th quarter worth about $43,000. Global Retirement Partners LLC acquired a new position in Core Molding Technologies in the 2nd quarter worth about $59,000. Finally, JPMorgan Chase & Co. raised its holdings in 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 worth $78,000 after purchasing an additional 738 shares during the period. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Core Molding Technologies Trading Down 0.1%

Shares of CMT opened at $26.15 on Friday. The company's 50-day moving average price is $24.33 and its 200 day moving average price is $23.15. Core Molding Technologies Inc has a 12-month low of $16.60 and a 12-month high of $28.69. The firm has a market cap of $231.43 million, a P/E ratio of 30.41 and a beta of 0.44.

Core Molding Technologies (NYSEAMERICAN:CMT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.18. The business had revenue of $62.73 million for the quarter, compared to the consensus estimate of $60.05 million. Core Molding Technologies had a net margin of 2.89% and a return on equity of 4.64%. Equities research analysts forecast that Core Molding Technologies Inc will post 1.04 earnings per share for the current year.

Insider Activity at Core Molding Technologies

In other Core Molding Technologies news, Director Ralph O. Hellmold sold 4,268 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $25.82, for a total transaction of $110,199.76. Following the sale, the director directly owned 33,501 shares in the company, valued at $864,995.82. This represents a 11.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas R. Cellitti sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $24.77, for a total transaction of $74,310.00. Following the completion of the transaction, the director directly owned 98,393 shares of the company's stock, valued at $2,437,194.61. This represents a 2.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 14,168 shares of company stock valued at $352,520. Insiders own 11.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Zacks Research raised Core Molding Technologies from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Roth Capital reaffirmed a "buy" rating and set a $30.00 target price on shares of Core Molding Technologies in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $30.00.

Core Molding Technologies Profile

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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