ClariVest Asset Management LLC raised its stake in shares of Dmc Global Inc (NASDAQ:BOOM) by 22,957.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,228 shares of the industrial products company’s stock after buying an additional 3,214 shares during the quarter. ClariVest Asset Management LLC’s holdings in Dmc Global were worth $145,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of BOOM. Millennium Management LLC grew its holdings in Dmc Global by 301.6% during the 1st quarter. Millennium Management LLC now owns 198,046 shares of the industrial products company’s stock valued at $5,298,000 after buying an additional 148,737 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Dmc Global during the 2nd quarter valued at about $4,049,000. Acadian Asset Management LLC purchased a new position in Dmc Global during the 2nd quarter valued at about $3,225,000. Wedge Capital Management L L P NC purchased a new position in Dmc Global during the 2nd quarter valued at about $1,670,000. Finally, BlackRock Inc. grew its holdings in Dmc Global by 3.4% during the 2nd quarter. BlackRock Inc. now owns 978,005 shares of the industrial products company’s stock valued at $43,911,000 after buying an additional 31,775 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the company. BidaskClub lowered Dmc Global from a “buy” rating to a “hold” rating in a report on Saturday, September 8th. TheStreet raised Dmc Global from a “c” rating to a “b-” rating in a report on Wednesday, September 5th. Stifel Nicolaus started coverage on Dmc Global in a report on Monday, September 10th. They set a “buy” rating and a $53.00 target price for the company. Zacks Investment Research lowered Dmc Global from a “strong-buy” rating to a “strong sell” rating in a report on Tuesday, July 31st. Finally, Roth Capital set a $58.00 price objective on Dmc Global and gave the stock a “buy” rating in a report on Saturday, July 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $49.75.
Dmc Global (NASDAQ:BOOM) last issued its quarterly earnings data on Thursday, July 26th. The industrial products company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Dmc Global had a positive return on equity of 16.70% and a negative net margin of 2.25%. The company had revenue of $80.90 million during the quarter, compared to analyst estimates of $74.95 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Dmc Global’s revenue was up 71.4% on a year-over-year basis. analysts predict that Dmc Global Inc will post 1.93 earnings per share for the current year.
In other Dmc Global news, insider John Edgar Scheatzle, Jr. sold 1,299 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $41.41, for a total value of $53,791.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Yvon Pierre Cariou sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $42.97, for a total value of $1,074,250.00. Following the completion of the sale, the director now directly owns 144,823 shares of the company’s stock, valued at approximately $6,223,044.31. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
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 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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