Diamond Hill Capital Management LLC Investment Advisor Takes Position in Core Molding Technologies Inc $CMT

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Core Molding Technologies Inc (NYSEAMERICAN:CMT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 215,699 shares of the industrial products company’s stock, valued at approximately $5,090,000.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. boosted 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 valued at $5,052,000 after purchasing an additional 119,457 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Core Molding Technologies by 17.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 198,163 shares of the industrial products company’s stock worth $3,973,000 after purchasing an additional 30,062 shares during the last quarter. Strs Ohio boosted its stake in Core Molding Technologies by 3.5% in the fourth quarter. Strs Ohio now owns 26,600 shares of the industrial products company’s stock valued at $533,000 after buying an additional 900 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Core Molding Technologies in the 2nd quarter valued at approximately $655,000. Finally, Global Retirement Partners LLC acquired a new position in Core Molding Technologies during the 2nd quarter worth approximately $59,000. 58.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Thomas R. Cellitti sold 2,495 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $24.00, for a total value of $59,880.00. Following the sale, the director owned 93,818 shares in the company, valued at $2,251,632. This represents a 2.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ralph O. Hellmold sold 4,268 shares of the stock in a transaction that occurred on 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 sale, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 14,168 shares of company stock valued at $352,520 in the last 90 days. 11.20% of the stock is currently owned by company insiders.

Core Molding Technologies Stock Up 3.8%

CMT stock opened at $26.28 on Tuesday. The firm has a market cap of $232.58 million, a price-to-earnings ratio of 30.56 and a beta of 0.44. Core Molding Technologies Inc has a 12-month low of $16.60 and a 12-month high of $28.69. The company’s fifty day simple moving average is $24.17 and its 200 day simple moving average is $22.99.

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

Analysts Set New Price Targets

Several research firms recently weighed in on CMT. Zacks Research raised Core Molding Technologies from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Roth Capital reaffirmed a “buy” rating and issued a $30.00 target price on shares of Core Molding Technologies in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

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.