New York State Common Retirement Fund increased its position in shares of Dynamic Materials Co. (NASDAQ:BOOM) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 405,221 shares of the industrial products company’s stock after purchasing an additional 12,150 shares during the period. New York State Common Retirement Fund owned 2.72% of Dynamic Materials worth $10,840,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in BOOM. Chartwell Investment Partners LLC purchased a new position in shares of Dynamic Materials in the fourth quarter valued at approximately $217,000. Alliancebernstein L.P. acquired a new stake in Dynamic Materials during the fourth quarter worth approximately $223,000. Wells Fargo & Company MN raised its holdings in Dynamic Materials by 23.1% during the fourth quarter. Wells Fargo & Company MN now owns 22,492 shares of the industrial products company’s stock worth $564,000 after purchasing an additional 4,227 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Dynamic Materials in the 4th quarter valued at $594,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Dynamic Materials by 13.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 30,094 shares of the industrial products company’s stock valued at $806,000 after acquiring an additional 3,600 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.
NASDAQ BOOM opened at $44.75 on Friday. The company has a market capitalization of $650.05 million, a price-to-earnings ratio of 52.02, a P/E/G ratio of 1.08 and a beta of 0.53. Dynamic Materials Co. has a fifty-two week low of $12.40 and a fifty-two week high of $46.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.30 and a quick ratio of 1.45.
Dynamic Materials (NASDAQ:BOOM) last released its earnings results on Thursday, April 26th. The industrial products company reported $0.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.27. Dynamic Materials had a positive return on equity of 11.20% and a negative net margin of 5.39%. The company had revenue of $67.30 million during the quarter, compared to analysts’ expectations of $60.03 million. During the same period in the prior year, the business posted ($0.21) EPS. The business’s revenue was up 72.6% on a year-over-year basis. sell-side analysts forecast that Dynamic Materials Co. will post 2.03 earnings per share for the current fiscal year.
In other news, Director Yvon Pierre Cariou sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $27.10, for a total transaction of $542,000.00. Following the transaction, the director now directly owns 173,852 shares of the company’s stock, valued at $4,711,389.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Kuta sold 5,355 shares of the firm’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $43.00, for a total value of $230,265.00. Following the transaction, the chief financial officer now directly owns 90,469 shares in the company, valued at $3,890,167. The disclosure for this sale can be found here. Insiders sold 32,355 shares of company stock worth $1,061,815 over the last ninety days. 5.10% of the stock is owned by corporate insiders.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of Dynamic Materials from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. ValuEngine upgraded shares of Dynamic Materials from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 27th. Roth Capital boosted their price objective on shares of Dynamic Materials from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, May 29th. Finally, Zacks Investment Research raised shares of Dynamic Materials from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Monday, March 12th.
Dynamic Materials Profile
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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