Sei Investments Co. Boosts Stake in Core Molding Technologies Inc $CMT

Sei Investments Co. increased its holdings in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) by 112.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 225,532 shares of the industrial products company’s stock after purchasing an additional 119,457 shares during the quarter. Sei Investments Co. owned 2.53% of Core Molding Technologies worth $5,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CMT. BNP Paribas Financial Markets boosted its holdings 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 valued at $34,000 after acquiring an additional 763 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Core Molding Technologies by 70.8% during the fourth 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 during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Core Molding Technologies during the fourth quarter valued at approximately $43,000. JPMorgan Chase & Co. lifted its position in Core Molding Technologies by 18.6% during the second quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 738 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Core Molding Technologies by 34.6% during the fourth quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock valued at $202,000 after purchasing an additional 2,593 shares during the period. 58.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Core Molding Technologies news, Director Thomas R. Cellitti sold 2,495 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $24.00, for a total transaction of $59,880.00. Following the completion of the sale, the director directly owned 93,818 shares of the company’s stock, valued at approximately $2,251,632. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 9,900 shares of company stock worth $242,320 over the last three months. 11.20% of the stock is currently owned by corporate insiders.

Core Molding Technologies Stock Up 2.3%

CMT stock opened at $24.55 on Wednesday. The company has a market cap of $218.50 million, a price-to-earnings ratio of 21.92 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 2.41. The business’s 50-day moving average is $23.84 and its two-hundred day moving average is $22.57. Core Molding Technologies Inc has a fifty-two week low of $16.50 and a fifty-two week high of $28.69.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.21 by $0.18. Core Molding Technologies had a net margin of 3.55% and a return on equity of 6.15%. The firm had revenue of $62.73 million during the quarter, compared to analyst estimates of $60.05 million. As a group, analysts forecast that Core Molding Technologies Inc will post 1.07 earnings per share for the current year.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Core Molding Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.00.

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.