22NW LP Has $4.58 Million Stock Holdings in Core Molding Technologies Inc $CMT

22NW LP boosted its stake in shares of Core Molding Technologies Inc (NYSEAMERICAN:CMT) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,738 shares of the industrial products company’s stock after purchasing an additional 31,516 shares during the quarter. Core Molding Technologies comprises approximately 2.4% of 22NW LP’s investment portfolio, making the stock its 14th biggest position. 22NW LP owned about 2.51% of Core Molding Technologies worth $4,577,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. raised its position in shares of Core Molding Technologies by 4.2% in the third quarter. Raymond James Financial Inc. now owns 41,927 shares of the industrial products company’s stock valued at $862,000 after purchasing an additional 1,680 shares during the period. Bridgeway Capital Management LLC grew its stake in Core Molding Technologies by 7.7% in the 3rd quarter. Bridgeway Capital Management LLC now owns 106,517 shares of the industrial products company’s stock valued at $2,189,000 after buying an additional 7,643 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in 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 acquiring an additional 763 shares during the period. Franklin Resources Inc. bought a new position in Core Molding Technologies in the 3rd quarter valued at about $211,000. Finally, Russell Investments Group Ltd. lifted its position in Core Molding Technologies by 56.7% during the third quarter. Russell Investments Group Ltd. now owns 29,686 shares of the industrial products company’s stock worth $610,000 after acquiring an additional 10,737 shares during the last quarter. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Roth Mkm boosted their price objective on Core Molding Technologies from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $24.00.

Core Molding Technologies Price Performance

NYSEAMERICAN:CMT opened at $19.32 on Friday. Core Molding Technologies Inc has a 52 week low of $13.78 and a 52 week high of $22.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.39 and a current ratio of 3.02. The firm’s 50-day simple moving average is $19.29 and its 200 day simple moving average is $19.45. The firm has a market cap of $170.60 million, a price-to-earnings ratio of 14.86 and a beta of 0.44.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. The firm had revenue of $74.68 million during the quarter, compared to the consensus estimate of $66.44 million. Core Molding Technologies had a net margin of 4.09% and a return on equity of 7.26%. As a group, sell-side analysts predict that Core Molding Technologies Inc will post 1.64 earnings per share for the current year.

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

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.