Core Molding Technologies (NYSEAMERICAN:CMT) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Core Molding Technologies (NYSEAMERICAN:CMT) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday.

Core Molding Technologies Price Performance

NYSEAMERICAN CMT opened at $19.80 on Tuesday. Core Molding Technologies has a 52-week low of $16.00 and a 52-week high of $30.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.23 and a quick ratio of 1.75. The company has a market cap of $181.17 million, a P/E ratio of 8.57 and a beta of 1.67.

Core Molding Technologies (NYSEAMERICAN:CMT) last issued its quarterly earnings results on Tuesday, March 12th. The industrial products company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.19. The company had revenue of $73.78 million during the quarter, compared to analysts’ expectations of $69.60 million. Core Molding Technologies had a net margin of 5.68% and a return on equity of 15.74%. Equities analysts expect that Core Molding Technologies will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Core Molding Technologies

Several hedge funds have recently made changes to their positions in CMT. Renaissance Technologies LLC boosted its holdings in shares of Core Molding Technologies by 7.7% in the 2nd quarter. Renaissance Technologies LLC now owns 566,274 shares of the industrial products company’s stock valued at $12,883,000 after buying an additional 40,410 shares during the last quarter. BlackRock Inc. lifted its holdings in Core Molding Technologies by 669.3% during the 2nd quarter. BlackRock Inc. now owns 419,435 shares of the industrial products company’s stock valued at $9,542,000 after purchasing an additional 364,916 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Core Molding Technologies by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 385,225 shares of the industrial products company’s stock valued at $7,138,000 after purchasing an additional 16,597 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Core Molding Technologies by 7.2% during the 3rd quarter. Acadian Asset Management LLC now owns 200,228 shares of the industrial products company’s stock valued at $5,702,000 after purchasing an additional 13,374 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Core Molding Technologies by 45.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 153,987 shares of the industrial products company’s stock valued at $2,915,000 after purchasing an additional 47,826 shares during the last quarter. 58.79% of the stock is owned by institutional investors.

Core Molding Technologies Company Profile

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.