State Street Corp Raises Stock Position in DMC Global Inc. (NASDAQ:BOOM)

State Street Corp raised its holdings in shares of DMC Global Inc. (NASDAQ:BOOM) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 402,644 shares of the industrial products company’s stock after acquiring an additional 10,561 shares during the quarter. State Street Corp owned approximately 2.01% of DMC Global worth $5,226,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in DMC Global during the 2nd quarter valued at approximately $25,000. FMR LLC grew its holdings in DMC Global by 146.1% during the 3rd quarter. FMR LLC now owns 2,247 shares of the industrial products company’s stock valued at $29,000 after buying an additional 1,334 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of DMC Global by 315.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,573 shares of the industrial products company’s stock valued at $80,000 after buying an additional 4,231 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of DMC Global by 25.7% in the third quarter. Quest Partners LLC now owns 6,718 shares of the industrial products company’s stock worth $87,000 after buying an additional 1,373 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of DMC Global during the third quarter worth $130,000. 77.63% of the stock is currently owned by hedge funds and other institutional investors.

DMC Global Stock Performance

Shares of NASDAQ:BOOM opened at $7.06 on Monday. The firm has a fifty day simple moving average of $8.40 and a two-hundred day simple moving average of $11.37. DMC Global Inc. has a 52 week low of $6.64 and a 52 week high of $19.73. The company has a quick ratio of 1.09, a current ratio of 2.37 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $141.38 million, a P/E ratio of -0.89 and a beta of 1.58.

DMC Global (NASDAQ:BOOM) last announced its quarterly earnings results on Monday, November 4th. The industrial products company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.40). The business had revenue of $152.43 million during the quarter, compared to the consensus estimate of $152.00 million. DMC Global had a negative net margin of 14.23% and a positive return on equity of 1.45%. During the same period in the previous year, the business posted $0.50 EPS. On average, analysts expect that DMC Global Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered DMC Global from a “buy” rating to a “hold” rating and cut their price objective for the company from $16.00 to $8.00 in a research report on Wednesday, November 20th. StockNews.com downgraded DMC Global from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th.

DMC Global Profile

DMC Global Inc provides a suite of engineered products and various solutions for the construction, energy, industrial processing, and transportation markets worldwide. The company operates through three segments: Arcadia, DynaEnergetics, and NobelClad. The Arcadia segment manufactures, assembles, and sells architectural building products, including exterior and interior framing systems, curtain walls, windows, doors, and interior partitions; architectural components, architectural framing systems, entrance systems, and sun control products; sliding and glazing systems; and thermally broken steel, aluminum windows and doors, and wood doors and windows.