Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) Short Interest Down 9.2% in July

Core Molding Technologies, Inc. (NYSEAMERICAN:CMT) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 288,300 shares, a decrease of 9.2% from the June 30th total of 317,400 shares. Based on an average trading volume of 38,200 shares, the days-to-cover ratio is currently 7.5 days. Approximately 3.6% of the shares of the stock are short sold.

Core Molding Technologies Trading Down 2.4 %

Shares of NYSEAMERICAN:CMT traded down $0.44 during trading on Thursday, reaching $18.01. The stock had a trading volume of 57,357 shares, compared to its average volume of 46,990. The firm has a market cap of $164.61 million, a P/E ratio of 8.60 and a beta of 1.69. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.88 and a current ratio of 2.44. Core Molding Technologies has a 52 week low of $14.64 and a 52 week high of $30.09.

Core Molding Technologies (NYSEAMERICAN:CMT) last issued its earnings results on Tuesday, May 7th. The industrial products company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.26 by $0.17. The company had revenue of $78.15 million during the quarter, compared to the consensus estimate of $78.69 million. Core Molding Technologies had a return on equity of 13.63% and a net margin of 5.42%. Equities analysts expect that Core Molding Technologies will post 1.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ralph O. Hellmold sold 1,696 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $19.17, for a total value of $32,512.32. Following the completion of the sale, the director now owns 33,248 shares of the company’s stock, valued at $637,364.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO David L. Duvall sold 17,513 shares of Core Molding Technologies stock in a transaction on Monday, May 13th. The shares were sold at an average price of $20.25, for a total transaction of $354,638.25. Following the transaction, the chief executive officer now directly owns 389,577 shares of the company’s stock, valued at $7,888,934.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ralph O. Hellmold sold 1,696 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $19.17, for a total transaction of $32,512.32. Following the completion of the sale, the director now owns 33,248 shares of the company’s stock, valued at approximately $637,364.16. The disclosure for this sale can be found here. Insiders have sold a total of 42,726 shares of company stock valued at $850,887 in the last 90 days. 13.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Core Molding Technologies

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Core Molding Technologies by 9.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 168,168 shares of the industrial products company’s stock valued at $2,681,000 after acquiring an additional 14,181 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Core Molding Technologies by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,724 shares of the industrial products company’s stock valued at $585,000 after purchasing an additional 1,856 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Core Molding Technologies by 187.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 76,321 shares of the industrial products company’s stock valued at $1,445,000 after purchasing an additional 49,764 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Core Molding Technologies during the 1st quarter valued at $155,000. Finally, Vanguard Group Inc. raised its stake in shares of Core Molding Technologies by 12.8% during the 1st quarter. Vanguard Group Inc. now owns 434,726 shares of the industrial products company’s stock worth $8,229,000 after purchasing an additional 49,501 shares during the period. 58.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Core Molding Technologies from a “buy” rating to a “strong-buy” rating in a research note on Monday.

About Core Molding Technologies

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.