DMC Global $BOOM Position Trimmed by Steel Partners Holdings L.P.

Key Points

• Steel Partners cut its DMC Global stake by 39.5% in the first quarter, selling 778,598 shares and retaining 1.19 million shares, or approximately 5.84% of BOOM. Institutional investors collectively own 77.63% of the company.
• DMC Global reported quarterly revenue of $135.59 million and an adjusted loss of $0.28 per share, modestly beating analyst estimates, but posted negative net margins and return on equity.
• BOOM shares opened at $5.93, below the analyst consensus target of $8.50. Ratings remain mixed, with one Buy, two Holds and one Sell, resulting in an overall “Hold” consensus.

Steel Partners Holdings L.P. lessened its stake in shares of DMC Global (NASDAQ:BOOM - Free Report) by 39.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,194,441 shares of the industrial products company's stock after selling 778,598 shares during the period. DMC Global accounts for about 6.5% of Steel Partners Holdings L.P.'s investment portfolio, making the stock its 7th biggest holding. Steel Partners Holdings L.P. owned approximately 5.84% of DMC Global worth $6,223,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP purchased a new position in shares of DMC Global during the 3rd quarter valued at about $31,000. Jump Financial LLC purchased a new stake in DMC Global in the 2nd quarter worth approximately $86,000. Van Den Berg Management I Inc. purchased a new stake in DMC Global in the 3rd quarter worth approximately $86,000. BNP Paribas Financial Markets raised its stake in DMC Global by 908.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 11,552 shares of the industrial products company's stock worth $93,000 after acquiring an additional 10,406 shares during the period. Finally, Verition Fund Management LLC bought a new stake in DMC Global during the 3rd quarter worth approximately $117,000. Hedge funds and other institutional investors own 77.63% of the company's stock.

DMC Global Stock Performance

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 stock has a 50-day moving average price of $6.62 and a 200 day moving average price of $6.68. The stock has a market capitalization of $121.39 million, a P/E ratio of -4.67 and a beta of 1.74.

DMC Global (NASDAQ:BOOM - Get Free Report) last issued its earnings results on Thursday, April 30th. The industrial products company reported ($0.28) earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $134.23 million. Equities research analysts forecast that DMC Global will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

DMC Global Company 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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