Wellington Management Group LLP Takes $10.54 Million Position in Elmet Group Co. $ELMT

Key Points

• Wellington Management acquired 533,783 Elmet Group shares worth approximately $10.54 million, representing about 1.75% of the company. AWM Investment Company also initiated a position valued at roughly $6.81 million.
• Analyst sentiment is generally positive, with four Buy ratings, one Hold and one Sell. The stock has a “Moderate Buy” consensus rating and an average price target of $20.75, above its recent $16.78 price.
• Elmet reported quarterly EPS of $0.18, beating expectations by $0.38, while revenue rose 35.2% year over year to $66.4 million. Analysts expect full-year EPS of $0.53.

Wellington Management Group LLP bought a new position in Elmet Group Co. (NASDAQ:ELMT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 533,783 shares of the company's stock, valued at approximately $10,537,000. Wellington Management Group LLP owned about 1.75% of Elmet Group at the end of the most recent quarter.

Separately, AWM Investment Company Inc. purchased a new stake in Elmet Group in the 2nd quarter worth about $6,807,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings began coverage on shares of Elmet Group in a research note on Monday, July 20th. They issued a "sell (e)" rating for the company. Needham & Company LLC began coverage on Elmet Group in a report on Monday, May 18th. They issued a "buy" rating and a $21.00 price target on the stock. Cantor Fitzgerald assumed coverage on Elmet Group in a research note on Monday, May 18th. They set an "overweight" rating and a $20.00 price target for the company. Zacks Research upgraded Elmet Group to a "hold" rating in a research note on Tuesday, May 19th. Finally, Roth Capital started coverage on Elmet Group in a research report on Monday, May 18th. They set a "buy" rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Elmet Group has a consensus rating of "Moderate Buy" and an average price target of $20.75.

Elmet Group Price Performance

Shares of ELMT stock opened at $16.78 on Tuesday. The company has a market cap of $511.12 million and a P/E ratio of 40.93. The stock has a 50-day moving average of $16.28. Elmet Group Co. has a one year low of $12.48 and a one year high of $22.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.03 and a quick ratio of 1.60.

Elmet Group (NASDAQ:ELMT - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.38. The company had revenue of $66.40 million for the quarter. The firm's quarterly revenue was up 35.2% on a year-over-year basis. On average, research analysts expect that Elmet Group Co. will post 0.53 EPS for the current fiscal year.

About Elmet Group

Elmet provides precision-engineered components and advanced high-energy systems for growth markets. Our customers in these markets require advanced technology involving critical and strategic materials, such as tungsten, molybdenum and niobium (such materials, the “Critical Materials”) and high-level radio frequency (“RF”) engineering, including plasma generation, radar, and other high-energy systems (together, “High-Power Microwave”). Our products and solutions are integral to the Aerospace, Defense and Government, Industrial, Medical, Semiconductor and Electronics, and Energy industries.

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