Bank of America Corp DE decreased its stake in Dmc Global Inc (NASDAQ:BOOM) by 46.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,741 shares of the industrial products company’s stock after selling 24,020 shares during the period. Bank of America Corp DE’s holdings in Dmc Global were worth $1,758,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of BOOM. BlackRock Inc. boosted its holdings in shares of Dmc Global by 115.2% in the 2nd quarter. BlackRock Inc. now owns 2,130,075 shares of the industrial products company’s stock valued at $134,942,000 after buying an additional 1,140,047 shares in the last quarter. Earnest Partners LLC acquired a new position in shares of Dmc Global in the 2nd quarter valued at $55,495,000. Prudential Financial Inc. acquired a new position in shares of Dmc Global in the 2nd quarter valued at $25,709,000. Balyasny Asset Management LLC acquired a new position in shares of Dmc Global in the 2nd quarter valued at $15,645,000. Finally, Brown Capital Management LLC boosted its holdings in shares of Dmc Global by 8.6% in the 2nd quarter. Brown Capital Management LLC now owns 2,524,955 shares of the industrial products company’s stock valued at $159,956,000 after buying an additional 200,730 shares in the last quarter. Institutional investors and hedge funds own 89.34% of the company’s stock.
BOOM has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Dmc Global from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. BidaskClub upgraded shares of Dmc Global from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. Chardan Capital reiterated a “buy” rating and set a $79.00 price target on shares of Dmc Global in a research note on Thursday, July 25th. ValuEngine cut shares of Dmc Global from a “sell” rating to a “strong sell” rating in a research note on Friday, September 20th. Finally, Sidoti set a $79.00 price target on shares of Dmc Global and gave the stock a “buy” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Dmc Global has a consensus rating of “Hold” and an average target price of $67.83.
Dmc Global (NASDAQ:BOOM) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.29. The firm had revenue of $110.95 million during the quarter, compared to analysts’ expectations of $104.84 million. Dmc Global had a net margin of 13.51% and a return on equity of 35.18%. Dmc Global’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Sell-side analysts expect that Dmc Global Inc will post 3.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.125 per share. The ex-dividend date was Friday, September 27th. This represents a $0.50 dividend on an annualized basis and a yield of 1.20%. This is a boost from Dmc Global’s previous quarterly dividend of $0.02. Dmc Global’s dividend payout ratio is currently 24.15%.
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 and sells 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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