Russell Investments Group Ltd. Acquires New Position in Dmc Global Inc (BOOM)
Russell Investments Group Ltd. acquired a new position in Dmc Global Inc (NASDAQ:BOOM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 90,154 shares of the industrial products company’s stock, valued at approximately $4,049,000. Russell Investments Group Ltd. owned 0.61% of Dmc Global at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in BOOM. Schwab Charles Investment Management Inc. lifted its stake in Dmc Global by 13.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 30,094 shares of the industrial products company’s stock worth $806,000 after acquiring an additional 3,600 shares during the period. EAM Global Investors LLC lifted its stake in Dmc Global by 30.9% in the first quarter. EAM Global Investors LLC now owns 52,566 shares of the industrial products company’s stock worth $1,406,000 after acquiring an additional 12,423 shares during the period. Hillsdale Investment Management Inc. lifted its stake in Dmc Global by 52.2% in the first quarter. Hillsdale Investment Management Inc. now owns 58,900 shares of the industrial products company’s stock worth $1,576,000 after acquiring an additional 20,200 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Dmc Global in the second quarter worth about $1,670,000. Finally, California Public Employees Retirement System lifted its stake in Dmc Global by 18.8% in the first quarter. California Public Employees Retirement System now owns 74,162 shares of the industrial products company’s stock worth $1,984,000 after acquiring an additional 11,762 shares during the period. 84.81% of the stock is owned by institutional investors.
In other news, Director Yvon Pierre Cariou sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $42.97, for a total transaction of $1,074,250.00. Following the transaction, the director now owns 144,823 shares in the company, valued at $6,223,044.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Edgar Scheatzle, Jr. sold 1,299 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $41.41, for a total transaction of $53,791.59. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
Dmc Global (NASDAQ:BOOM) last released its quarterly earnings results on Thursday, July 26th. The industrial products company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $80.90 million during the quarter, compared to analyst estimates of $74.95 million. Dmc Global had a negative net margin of 2.25% and a positive return on equity of 16.70%. The company’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. analysts predict that Dmc Global Inc will post 1.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Sunday, September 30th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. The ex-dividend date of this dividend is Thursday, September 27th. Dmc Global’s payout ratio is 50.00%.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Dmc Global from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 30th. Chardan Capital assumed coverage on shares of Dmc Global in a research note on Thursday, July 5th. They issued a “buy” rating and a $59.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Dmc Global in a research note on Monday, September 10th. They issued a “buy” rating and a $53.00 price objective for the company. Zacks Investment Research lowered shares of Dmc Global from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, July 31st. Finally, TheStreet raised shares of Dmc Global from a “c” rating to a “b-” rating in a research report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $49.75.
About Dmc Global
DMC Global Inc engages in technical product and process businesses serving the energy, industrial, and infrastructure markets worldwide. The company operates in two segments, NobelClad and DynaEnergetics. The NobelClad segment produces explosion-welded clad metal plates for use in the construction of heavy, corrosion resistant pressure vessels, and heat exchangers for oil and gas, chemical and petrochemical, alternative energy, hydrometallurgy, aluminum production, shipbuilding, power generation, industrial refrigeration, and other industries.
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