Core Molding Technologies Inc $CMT Position Raised by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. increased its position in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) by 17.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 198,163 shares of the industrial products company’s stock after buying an additional 30,062 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Core Molding Technologies were worth $3,973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Core Molding Technologies by 83.8% in the third 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. increased its holdings in shares of Core Molding Technologies by 18.6% in the second 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 increased its holdings in shares of Core Molding Technologies by 8.9% in the second quarter. Rhumbline Advisers now owns 12,647 shares of the industrial products company’s stock valued at $210,000 after buying an additional 1,038 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Core Molding Technologies in the third quarter valued at $211,000. Finally, Stoneridge Investment Partners LLC increased its holdings in shares of Core Molding Technologies by 8.0% in the third quarter. Stoneridge Investment Partners LLC now owns 12,330 shares of the industrial products company’s stock valued at $253,000 after buying an additional 917 shares in the last quarter. Institutional investors own 58.79% of the company’s stock.

Core Molding Technologies Price Performance

NYSEAMERICAN CMT opened at $23.53 on Friday. The stock has a market capitalization of $209.42 million, a P/E ratio of 21.01 and a beta of 0.48. Core Molding Technologies Inc has a 1 year low of $15.62 and a 1 year high of $28.69. The business’s fifty day moving average is $23.91 and its two-hundred day moving average is $20.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 2.41.

Core Molding Technologies (NYSEAMERICAN:CMT) last posted its quarterly earnings data on Tuesday, March 10th. The industrial products company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. Core Molding Technologies had a net margin of 3.55% and a return on equity of 6.15%. The firm had revenue of $74.68 million for the quarter, compared to analysts’ expectations of $66.44 million. On average, research analysts forecast that Core Molding Technologies Inc will post 1.07 earnings per share for the current fiscal year.

Core Molding Technologies declared that its board has authorized a stock repurchase program on Thursday, March 12th that permits the company to buyback $7,500.00 billion in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 4,581,831.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Zacks Research cut Core Molding Technologies from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Roth Mkm upped their price target on Core Molding Technologies from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.00.

Core Molding Technologies 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.