California State Teachers Retirement System bought a new position in shares of Dynamic Materials Corp. (NASDAQ:BOOM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 29,396 shares of the company’s stock, valued at approximately $316,000. California State Teachers Retirement System owned 0.20% of Dynamic Materials Corp. as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Dynamic Materials Corp. by 54.8% in the first quarter. Franklin Resources Inc. now owns 100,000 shares of the company’s stock worth $648,000 after buying an additional 35,400 shares during the period. Royce & Associates LP raised its position in Dynamic Materials Corp. by 0.9% in the first quarter. Royce & Associates LP now owns 640,819 shares of the company’s stock worth $4,153,000 after buying an additional 6,000 shares during the period. Uniplan Investment Counsel Inc. raised its position in Dynamic Materials Corp. by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 665,310 shares of the company’s stock worth $4,311,000 after buying an additional 2,165 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Dynamic Materials Corp. by 70.3% in the second quarter. Bank of New York Mellon Corp now owns 72,272 shares of the company’s stock worth $776,000 after buying an additional 29,824 shares during the period. Institutional investors own 90.11% of the company’s stock.
Shares of Dynamic Materials Corp. (NASDAQ:BOOM) traded down 0.40% on Monday, hitting $10.01. 4,478 shares of the stock traded hands. The stock’s market cap is $144.86 million. The company’s 50 day moving average is $10.53 and its 200 day moving average is $10.11. Dynamic Materials Corp. has a one year low of $4.84 and a one year high of $12.38.
Dynamic Materials Corp. (NASDAQ:BOOM) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.03. The company earned $41.30 million during the quarter, compared to analysts’ expectations of $41.29 million. Dynamic Materials Corp. had a negative return on equity of 6.15% and a negative net margin of 13.15%. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. On average, equities analysts forecast that Dynamic Materials Corp. will post ($0.21) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 15th. Investors of record on Friday, September 30th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.80%. Dynamic Materials Corp.’s dividend payout ratio is currently -5.23%.
Separately, Zacks Investment Research lowered shares of Dynamic Materials Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $8.67.
In related news, insider Kevin T. Longe sold 12,500 shares of Dynamic Materials Corp. stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $11.70, for a total value of $146,250.00. Following the transaction, the insider now owns 90,750 shares of the company’s stock, valued at approximately $1,061,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.
Dynamic Materials Corp. Company Profile
Dynamic Materials Corporation operates a family of technical product and process businesses serving the energy, industrial and infrastructure markets. The Company’s segments are NobelClad and DynaEnergetics. The NobelClad segment is engaged in the production of explosion-welded clad metal plates for use in the construction of corrosion resistant industrial processing equipment and specialized transition joints.
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