Key Points
- Core Molding EVP Michael James Gayford purchased 500 shares on March 19 at an average price of $20.12, bringing his total stake to 27,167 shares (about $546,600) — the transaction was disclosed in an SEC filing.
- Core Molding beat expectations last quarter, reporting $0.47 EPS versus a $0.23 consensus and revenue of $74.68 million versus $66.44 million, signaling stronger-than-expected performance.
- The company's board announced a share buyback program, though the article's reported buyback dollar and percentage figures contain clear typographical errors and should be verified from the company's filings.
Core Molding Technologies Inc (NYSEAMERICAN:CMT - Get Free Report) EVP Michael James Gayford bought 500 shares of the company's stock in a transaction on Thursday, March 19th. The shares were purchased at an average cost of $20.12 per share, for a total transaction of $10,060.00. Following the transaction, the executive vice president owned 27,167 shares in the company, valued at approximately $546,600.04. This represents a 1.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Core Molding Technologies Stock Performance
Shares of NYSEAMERICAN CMT traded down $0.05 during midday trading on Friday, reaching $20.39. The company's stock had a trading volume of 11,143 shares, compared to its average volume of 23,996. The stock has a market capitalization of $180.08 million, a P/E ratio of 15.68 and a beta of 0.44. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.02 and a quick ratio of 2.45. The firm has a 50 day moving average price of $19.35 and a 200-day moving average price of $19.49. Core Molding Technologies Inc has a 12-month low of $13.99 and a 12-month high of $22.29.
Core Molding Technologies (NYSEAMERICAN:CMT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 10th. The industrial products company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.24. The business had revenue of $74.68 million for the quarter, compared to analyst estimates of $66.44 million. Core Molding Technologies had a return on equity of 7.26% and a net margin of 4.09%. As a group, equities analysts predict that Core Molding Technologies Inc will post 1.64 earnings per share for the current year.
Core Molding Technologies announced that its board has approved a share buyback program on Thursday, March 12th that allows the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.
Analyst Ratings Changes
Separately, Roth Mkm raised their price objective on shares of Core Molding Technologies from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $24.00.
Get Our Latest Report on CMT
Institutional Investors Weigh In On Core Molding Technologies
Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Core Molding Technologies by 5.1% in the fourth quarter. Barclays PLC now owns 14,448 shares of the industrial products company's stock worth $290,000 after purchasing an additional 695 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings 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 worth $78,000 after buying an additional 738 shares during the period. BNP Paribas Financial Markets grew its stake in Core Molding Technologies by 83.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,673 shares of the industrial products company's stock valued at $34,000 after buying an additional 763 shares in the last quarter. NewEdge Advisors LLC grew its stake in Core Molding Technologies by 70.8% in the 4th quarter. NewEdge Advisors LLC now owns 1,937 shares of the industrial products company's stock valued at $39,000 after buying an additional 803 shares in the last quarter. Finally, Strs Ohio raised its holdings in Core Molding Technologies by 3.5% during the 4th quarter. Strs Ohio now owns 26,600 shares of the industrial products company's stock valued at $533,000 after acquiring an additional 900 shares during the period. Hedge funds and other institutional investors own 58.79% of the company's stock.
About Core Molding Technologies
(
Get Free Report)
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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