BlackRock Inc. Makes New Investment in DMC Global $BOOM

Key Points

• BlackRock initiated a stake in DMC Global, purchasing 494,903 shares valued at approximately $2.9 million, or 2.41% of the company. Institutional investors collectively own 77.63% of BOOM.
• Analyst sentiment remains mixed: ratings include one Buy, two Holds, and one Sell, producing an overall Hold consensus with an average price target of $9.00.
• DMC Global exceeded quarterly expectations, reporting $0.04 in earnings per share versus the consensus estimate of a $0.15 loss, while revenue reached $156.95 million. The stock opened at $6.97 and trades within a 12-month range of $4.69 to $9.20.

BlackRock Inc. purchased a new stake in DMC Global (NASDAQ:BOOM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 494,903 shares of the industrial products company's stock, valued at approximately $2,875,000. BlackRock Inc. owned 2.41% of DMC Global at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG bought a new stake in DMC Global in the 2nd quarter valued at approximately $322,000. Bank of New York Mellon Corp acquired a new stake in shares of DMC Global in the second quarter valued at approximately $122,000. GSA Capital Partners LLP bought a new stake in shares of DMC Global in the second quarter worth $346,000. Palouse Capital Management Inc. lifted its position in shares of DMC Global by 141.8% in the second quarter. Palouse Capital Management Inc. now owns 18,639 shares of the industrial products company's stock worth $108,000 after purchasing an additional 10,931 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in DMC Global by 9.5% during the first quarter. Bank of America Corp DE now owns 18,641 shares of the industrial products company's stock worth $97,000 after purchasing an additional 1,623 shares during the last quarter. 77.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on BOOM. Weiss Ratings reissued a "sell (d-)" rating on shares of DMC Global in a research report on Wednesday, August 19th. Stifel Nicolaus raised their price objective on DMC Global from $7.00 to $8.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Finally, Wall Street Zen raised DMC Global from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $9.00.

DMC Global Price Performance

NASDAQ:BOOM opened at $6.97 on Friday. DMC Global has a 12-month low of $4.69 and a 12-month high of $9.20. The firm has a market capitalization of $143.16 million, a price-to-earnings ratio of -7.49 and a beta of 1.76. The stock's 50 day moving average price is $6.67 and its two-hundred day moving average price is $6.41. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.23.

DMC Global (NASDAQ:BOOM - Get Free Report) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.19. DMC Global had a negative return on equity of 6.84% and a negative net margin of 3.37%.The business had revenue of $156.95 million for the quarter, compared to analyst estimates of $148.97 million. On average, analysts anticipate that DMC Global will post -0.02 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.

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