Core Molding Technologies (NYSEAMERICAN:CMT) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $19.50 and traded as low as $18.42. Core Molding Technologies shares last traded at $18.77, with a volume of 7,976 shares changing hands.

Core Molding Technologies Trading Up 0.6%

The firm has a 50 day simple moving average of $19.50 and a 200 day simple moving average of $19.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.39 and a current ratio of 2.90. The firm has a market cap of $166.30 million, a P/E ratio of 19.97 and a beta of 0.46.

Institutional Investors Weigh In On Core Molding Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in shares of Core Molding Technologies by 6,568.0% during the second quarter. Nisa Investment Advisors LLC now owns 1,667 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,642 shares in the last quarter. BNP Paribas Financial Markets increased its holdings 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 worth $34,000 after buying an additional 763 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Core Molding Technologies by 18.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,703 shares of the industrial products company’s stock valued at $78,000 after buying an additional 738 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Core Molding Technologies by 8.9% during the 2nd quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 1,038 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new position in Core Molding Technologies in the third quarter worth $211,000. Hedge funds and other institutional investors own 58.79% of the company’s stock.

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.