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

Key Points

• Core Molding Technologies shares rose above their 50-day moving average of $24.50, reaching $25.55 before closing at $25.05. The company’s 200-day moving average is $23.39.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $30.00 price target. Recent quarterly results beat estimates, with earnings per share of $0.39 versus the $0.21 consensus and revenue of $62.73 million.
• Insiders sold 14,168 shares worth approximately $352,520 during the latest quarter, while institutional investors own 58.79% of the company’s stock.

Core Molding Technologies Inc (NYSEAMERICAN:CMT - Get Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $24.50 and traded as high as $25.55. Core Molding Technologies shares last traded at $25.05, with a volume of 26,012 shares traded.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMT. Zacks Research upgraded shares of Core Molding Technologies from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Roth Capital reiterated a "buy" rating and issued a $30.00 price target on shares of Core Molding Technologies in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Core Molding Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $30.00.

Core Molding Technologies Price Performance

The stock has a 50-day simple moving average of $24.50 and a 200-day simple moving average of $23.39. The stock has a market cap of $221.69 million, a P/E ratio of 29.13 and a beta of 0.44.

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

Insider Buying and Selling

In other Core Molding Technologies news, Director Thomas R. Cellitti sold 3,000 shares of Core Molding Technologies stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $24.77, for a total transaction of $74,310.00. Following the transaction, the director directly owned 98,393 shares of the company's stock, valued at approximately $2,437,194.61. The trade was a 2.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ralph O. Hellmold sold 4,268 shares of Core Molding Technologies stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $25.82, for a total value of $110,199.76. Following the completion of the transaction, the director directly owned 33,501 shares in the company, valued at approximately $864,995.82. This represents a 11.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 14,168 shares of company stock valued at $352,520. 11.20% 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 bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Core Molding Technologies by 512.8% in the second quarter. California State Teachers Retirement System now owns 2,690 shares of the industrial products company's stock valued at $63,000 after buying an additional 2,251 shares during the period. Empowered Funds LLC bought a new position in shares of Core Molding Technologies in the second quarter valued at $1,382,000. Public Employees Retirement System of Ohio acquired a new position in Core Molding Technologies during the 2nd quarter valued at about $137,000. Bank of America Corp DE purchased a new position in shares of Core Molding Technologies during the second quarter valued at approximately $485,000. Finally, Bard Associates Inc. purchased a new position in Core Molding Technologies during the 2nd quarter worth $3,388,000. Institutional investors and hedge funds own 58.79% of the company's stock.

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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