Bank of New York Mellon Corp raised its stake in Dynamic Materials Corp. (NASDAQ:BOOM) by 70.3% during the second quarter, Holdings Channel reports. The institutional investor owned 72,272 shares of the company’s stock after buying an additional 29,824 shares during the period. Bank of New York Mellon Corp owned about 0.50% of Dynamic Materials Corp. worth $776,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of Dynamic Materials Corp. by 54.8% in the first quarter. Franklin Resources Inc. now owns 100,000 shares of the company’s stock valued at $648,000 after buying an additional 35,400 shares in the last quarter. Royce & Associates LP boosted its position in shares of Dynamic Materials Corp. by 0.9% in the first quarter. Royce & Associates LP now owns 640,819 shares of the company’s stock valued at $4,153,000 after buying an additional 6,000 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in shares of Dynamic Materials Corp. by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 665,310 shares of the company’s stock valued at $4,311,000 after buying an additional 2,165 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors.
Shares of Dynamic Materials Corp. (NASDAQ:BOOM) traded up 2.22% on Wednesday, hitting $10.14. 5,567 shares of the stock traded hands. The stock’s market cap is $146.75 million. The stock has a 50 day moving average price of $10.44 and a 200-day moving average price of $10.22. Dynamic Materials Corp. has a 52 week low of $4.84 and a 52 week high of $12.38.
Dynamic Materials Corp. (NASDAQ:BOOM) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.03. Dynamic Materials Corp. had a negative return on equity of 6.15% and a negative net margin of 13.15%. The firm had revenue of $41.30 million for the quarter, compared to analysts’ expectations of $41.29 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Dynamic Materials Corp. will post ($0.21) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, October 15th. Shareholders of record on Friday, September 30th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Wednesday, September 28th. Dynamic Materials Corp.’s payout ratio is -5.23%.
Separately, Zacks Investment Research cut shares of Dynamic Materials Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.67.
In other Dynamic Materials Corp. news, insider Kevin T. Longe sold 12,500 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $11.70, for a total value of $146,250.00. Following the transaction, the insider now directly owns 90,750 shares in the company, valued at $1,061,775. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by company insiders.
About Dynamic Materials Corp.
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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