Core Molding Technologies (NYSEAMERICAN:CMT) Announces Quarterly Earnings Results

Core Molding Technologies (NYSEAMERICAN:CMT) announced its earnings results on Tuesday. The industrial products company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.23 by $0.24, FiscalAI reports. Core Molding Technologies had a return on equity of 5.88% and a net margin of 3.09%.The company had revenue of $74.68 million for the quarter, compared to analysts’ expectations of $66.44 million.

Core Molding Technologies Trading Down 4.0%

CMT opened at $18.05 on Tuesday. Core Molding Technologies has a 1-year low of $12.25 and a 1-year high of $22.29. The stock has a market capitalization of $159.92 million, a PE ratio of 19.20 and a beta of 0.44. The company has a current ratio of 2.90, a quick ratio of 2.39 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $19.34 and a two-hundred day moving average price of $19.46.

Institutional Trading of Core Molding Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 763 shares during the period. NewEdge Advisors LLC lifted its stake in Core Molding Technologies by 70.8% in the fourth 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 during the period. Kestra Advisory Services LLC bought a new position in Core Molding Technologies during the fourth quarter worth about $43,000. JPMorgan Chase & Co. increased its stake in shares of 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. Finally, Wells Fargo & Company MN raised its position in shares of Core Molding Technologies by 34.6% in the 4th quarter. Wells Fargo & Company MN now owns 10,096 shares of the industrial products company’s stock valued at $202,000 after acquiring an additional 2,593 shares during the period. Institutional investors and hedge funds own 58.79% of the company’s stock.

Core Molding Technologies Company Profile

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.