Tieton Capital Management LLC Takes $10.67 Million Position in Core Molding Technologies Inc $CMT

Tieton Capital Management LLC acquired a new position in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 452,030 shares of the industrial products company’s stock, valued at approximately $10,668,000. Core Molding Technologies makes up approximately 3.1% of Tieton Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Tieton Capital Management LLC owned approximately 5.11% of Core Molding Technologies at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CMT. BlackRock Inc. bought a new stake in shares of Core Molding Technologies during the second quarter worth $11,469,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Core Molding Technologies in the 2nd quarter worth about $5,090,000. Sei Investments Co. increased its holdings in Core Molding Technologies by 112.6% in the 1st quarter. Sei Investments Co. now owns 225,532 shares of the industrial products company’s stock worth $5,052,000 after purchasing an additional 119,457 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Core Molding Technologies by 17.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock valued at $3,973,000 after purchasing an additional 30,062 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Core Molding Technologies during the second quarter valued at about $655,000. Institutional investors own 58.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CMT. Zacks Research raised Core Molding Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Roth Capital reissued a “buy” rating and set a $30.00 target price on shares of Core Molding Technologies in a report on Wednesday, August 5th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Core Molding Technologies has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Core Molding Technologies Price Performance

Core Molding Technologies stock opened at $26.10 on Thursday. The stock’s 50 day moving average is $24.27 and its 200 day moving average is $23.09. Core Molding Technologies Inc has a one year low of $16.60 and a one year high of $28.69. The firm has a market cap of $230.99 million, a P/E ratio of 30.35 and a beta of 0.44.

Core Molding Technologies (NYSEAMERICAN:CMT) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.18. The firm had revenue of $62.73 million during the quarter, compared to analyst estimates of $60.05 million. Core Molding Technologies had a net margin of 2.89% and a return on equity of 4.64%. Equities analysts anticipate that Core Molding Technologies Inc will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Core Molding Technologies

In other Core Molding Technologies news, Director Thomas R. Cellitti sold 2,495 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $24.00, for a total transaction of $59,880.00. Following the completion of the sale, the director directly owned 93,818 shares in the company, valued at approximately $2,251,632. This trade represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ralph O. Hellmold sold 4,268 shares of Core Molding Technologies stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $25.82, for a total value of $110,199.76. Following the completion of the transaction, the director directly owned 33,501 shares of the company’s stock, valued at approximately $864,995.82. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 14,168 shares of company stock valued at $352,520. 11.20% of the stock is currently owned by corporate insiders.

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.