Bank of New York Mellon Corp Reduces Position in DMC Global Inc. (NASDAQ:BOOM)

Bank of New York Mellon Corp lowered its stake in DMC Global Inc. (NASDAQ:BOOM) by 17.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,076 shares of the industrial products company’s stock after selling 12,563 shares during the period. Bank of New York Mellon Corp’s holdings in DMC Global were worth $427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BOOM. Victory Capital Management Inc. grew its holdings in DMC Global by 115.8% during the third quarter. Victory Capital Management Inc. now owns 22,217 shares of the industrial products company’s stock worth $288,000 after acquiring an additional 11,924 shares during the period. Quest Partners LLC boosted its position in DMC Global by 25.7% in the 3rd quarter. Quest Partners LLC now owns 6,718 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 1,373 shares in the last quarter. FMR LLC grew its stake in shares of DMC Global by 146.1% during the 3rd quarter. FMR LLC now owns 2,247 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 1,334 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of DMC Global during the 3rd quarter valued at approximately $130,000. Finally, State Street Corp lifted its stake in shares of DMC Global by 2.7% in the 3rd quarter. State Street Corp now owns 402,644 shares of the industrial products company’s stock valued at $5,226,000 after purchasing an additional 10,561 shares during the period. 77.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BOOM shares. StockNews.com upgraded DMC Global from a “sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Stifel Nicolaus boosted their price target on shares of DMC Global from $8.00 to $9.50 and gave the stock a “hold” rating in a report on Wednesday, February 26th.

DMC Global Trading Down 6.0 %

Shares of BOOM opened at $8.39 on Friday. DMC Global Inc. has a 12-month low of $6.65 and a 12-month high of $19.72. The firm has a market capitalization of $169.83 million, a P/E ratio of -1.06 and a beta of 1.59. The firm has a 50-day moving average price of $8.30 and a 200 day moving average price of $9.11. The company has a current ratio of 2.37, a quick ratio of 1.09 and a debt-to-equity ratio of 0.28.

DMC Global (NASDAQ:BOOM) last announced its quarterly earnings results on Monday, February 24th. The industrial products company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.29) by $0.38. The business had revenue of $152.37 million for the quarter, compared to analyst estimates of $140.50 million. DMC Global had a positive return on equity of 1.45% and a negative net margin of 14.23%. Sell-side analysts forecast that DMC Global Inc. will post -0.23 EPS for the current year.

About DMC Global

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.