Empowered Funds LLC Buys New Stake in Core Molding Technologies Inc $CMT

Empowered Funds LLC acquired a new stake in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) in the 2nd quarter, Holdings Channel reports. The firm acquired 58,542 shares of the industrial products company’s stock, valued at approximately $1,382,000.

Other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in 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 valued at $34,000 after purchasing an additional 763 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Core Molding Technologies by 70.8% during the 4th quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 803 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Core Molding Technologies during the 4th quarter valued at $43,000. Global Retirement Partners LLC bought a new position in Core Molding Technologies in the 2nd quarter valued at $59,000. Finally, JPMorgan Chase & Co. grew its position 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 valued at $78,000 after acquiring an additional 738 shares during the last quarter. Institutional investors own 58.79% of the company’s stock.

Core Molding Technologies Trading Up 0.3%

Shares of CMT stock opened at $24.12 on Friday. Core Molding Technologies Inc has a 12-month low of $16.60 and a 12-month high of $28.69. The business’s fifty day simple moving average is $24.54 and its 200-day simple moving average is $23.49. The company has a market cap of $213.46 million, a PE ratio of 28.05 and a beta of 0.45.

Core Molding Technologies (NYSEAMERICAN:CMT) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $62.73 million for the quarter, compared to analyst estimates of $60.05 million. On average, equities 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 related news, Director Thomas R. Cellitti sold 3,000 shares of Core Molding Technologies 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 directly owned 98,393 shares in the company, valued at $2,437,194.61. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ralph O. Hellmold sold 4,268 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $25.82, for a total value of $110,199.76. Following the sale, the director owned 33,501 shares in the company, valued at approximately $864,995.82. The trade was a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,168 shares of company stock valued at $352,520 over the last ninety days. 11.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CMT has been the subject of a number of recent analyst reports. Zacks Research raised shares of Core Molding Technologies from a “strong sell” rating to a “hold” rating in a research note 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 report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

About Core Molding Technologies

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.