Steel Partners Holdings L.P. Trims Position in DMC Global $BOOM

Steel Partners Holdings L.P. lowered its stake in DMC Global (NASDAQ:BOOM) by 39.5% during the 1st quarter, Holdings Channel reports. The firm owned 1,194,441 shares of the industrial products company’s stock after selling 778,598 shares during the quarter. DMC Global makes up about 6.5% of Steel Partners Holdings L.P.’s holdings, making the stock its 7th biggest position. Steel Partners Holdings L.P. owned about 0.06% of DMC Global worth $6,223,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gendell Jeffrey L bought a new stake in shares of DMC Global in the fourth quarter worth about $6,036,000. Federated Hermes Inc. boosted its stake in DMC Global by 159.3% during the second quarter. Federated Hermes Inc. now owns 603,614 shares of the industrial products company’s stock valued at $4,865,000 after buying an additional 370,833 shares during the last quarter. Mackenzie Financial Corp bought a new position in DMC Global during the fourth quarter valued at approximately $1,953,000. Bridgeway Capital Management LLC grew its holdings in DMC Global by 55.8% during the 3rd quarter. Bridgeway Capital Management LLC now owns 319,238 shares of the industrial products company’s stock valued at $2,698,000 after buying an additional 114,320 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in DMC Global by 382.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 137,203 shares of the industrial products company’s stock valued at $1,106,000 after buying an additional 108,736 shares in the last quarter. Institutional investors own 77.63% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on BOOM shares. Zacks Research raised DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen upgraded DMC Global from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of DMC Global in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $8.50.

DMC Global Price Performance

Shares of NASDAQ:BOOM opened at $5.93 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.21. DMC Global has a 12 month low of $4.69 and a 12 month high of $9.20. The company has a 50-day moving average price of $6.62 and a 200 day moving average price of $6.68. The company has a market cap of $121.39 million, a price-to-earnings ratio of -4.67 and a beta of 1.74.

DMC Global (NASDAQ:BOOM) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. DMC Global had a negative return on equity of 6.02% and a negative net margin of 4.28%.The company had revenue of $135.59 million for the quarter, compared to analysts’ expectations of $134.23 million. As a group, equities research analysts predict that DMC Global will post -0.29 earnings per share for the current year.

DMC Global Profile

DMC Global Inc (NASDAQ: BOOM) is a diversified industrial company headquartered in Houston, Texas. It operates through two core business segments—EVI and MECO—that deliver engineered products and services primarily to the mining, oil and gas, and water treatment markets. The company focuses on innovation, precision manufacturing and aftermarket support to help clients improve operational efficiency and safety in challenging environments.

The EVI segment, operating under the DynaEnergetics brand, designs and manufactures explosive perforating systems, well completion tools and precision components for the non-metallic mining and oilfield services industries.