Diamond Hill Capital Management LLC Investment Advisor Takes Position in Core Molding Technologies Inc $CMT

Key Points

• Diamond Hill Capital Management bought 215,699 shares of Core Molding Technologies in the second quarter, worth approximately $5.09 million and representing a 2.44% stake. Institutional investors collectively own 58.79% of the company.
• Core Molding reported quarterly EPS of $0.39, beating estimates of $0.21, while revenue of $62.73 million exceeded the $60.05 million consensus forecast.
• CMT shares opened at $26.28, up 3.8%, while analysts maintain a “Moderate Buy” consensus and an average price target of $30.00; insiders have sold $352,520 worth of stock over the past 90 days.

Diamond Hill Capital Management LLC Investment Advisor bought a new position in Core Molding Technologies Inc (NYSEAMERICAN:CMT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 215,699 shares of the industrial products company's stock, valued at approximately $5,090,000. Diamond Hill Capital Management LLC Investment Advisor owned 2.44% of Core Molding Technologies at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its position in Core Molding Technologies by 112.6% in the first quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company's stock valued at $5,052,000 after acquiring an additional 119,457 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Core Molding Technologies by 17.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company's stock valued at $3,973,000 after purchasing an additional 30,062 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Core Molding Technologies in the 2nd quarter valued at $655,000. Bristlecone Value Partners LLC bought a new stake in Core Molding Technologies during the 4th quarter worth about $401,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Core Molding Technologies during the first quarter worth approximately $358,000. Institutional investors and hedge funds own 58.79% of the company's stock.

Core Molding Technologies Stock Up 3.8%

NYSEAMERICAN:CMT opened at $26.28 on Tuesday. The company has a market cap of $232.58 million, a P/E ratio of 30.56 and a beta of 0.44. Core Molding Technologies Inc has a twelve month low of $16.60 and a twelve month high of $28.69. The business has a 50 day moving average price of $24.17 and a two-hundred day moving average price of $22.99.

Core Molding Technologies (NYSEAMERICAN:CMT - Get Free Report) last released its 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. Core Molding Technologies had a return on equity of 4.64% and a net margin of 2.89%.The business had revenue of $62.73 million for the quarter, compared to the consensus estimate of $60.05 million. As a group, analysts anticipate that Core Molding Technologies Inc will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Core Molding Technologies news, Director Ralph O. Hellmold sold 4,268 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $864,995.82. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas R. Cellitti sold 3,000 shares of the company'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 value of $74,310.00. Following the completion of the sale, the director owned 98,393 shares in the company, 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. Over the last 90 days, insiders sold 14,168 shares of company stock valued at $352,520. Corporate insiders own 11.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMT. Roth Capital reaffirmed a "buy" rating and issued a $30.00 price target on shares of Core Molding Technologies in a research note on Wednesday, August 5th. Zacks Research raised 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Core Molding Technologies Company 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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