DMC Global (NASDAQ:BOOM) Announces Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Posted by Defense World Staff on Aug 10th, 2023

DMC Global (NASDAQ:BOOM – Get Free Report) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.31, Briefing.com reports. DMC Global had a return on equity of 6.46% and a net margin of 3.34%. The business had revenue of $188.66 million for the quarter, compared to analysts’ expectations of $179.00 million. During the same period last year, the business earned $0.29 EPS. The business’s revenue was up 13.8% on a year-over-year basis. DMC Global updated its Q3 2023 guidance to EPS.

DMC Global Stock Performance

Shares of BOOM stock opened at $22.26 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.90 and a current ratio of 2.01. The firm has a market cap of $438.90 million, a price-to-earnings ratio of 19.03 and a beta of 1.66. DMC Global has a 52 week low of $13.95 and a 52 week high of $28.01. The firm’s 50-day simple moving average is $17.56 and its two-hundred day simple moving average is $20.04.

Insider Transactions at DMC Global

In other news, Director Richard P. Graff sold 2,000 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $16.09, for a total transaction of $32,180.00. Following the transaction, the director now owns 18,881 shares of the company’s stock, valued at approximately $303,795.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DMC Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new stake in DMC Global during the 2nd quarter worth about $223,000. UBS Group AG boosted its stake in DMC Global by 330.7% during the fourth quarter. UBS Group AG now owns 11,451 shares of the industrial products company’s stock valued at $223,000 after buying an additional 8,792 shares during the period. Stifel Financial Corp purchased a new stake in shares of DMC Global in the 1st quarter valued at about $220,000. Citigroup Inc. boosted its position in shares of DMC Global by 26.6% during the 4th quarter. Citigroup Inc. now owns 11,170 shares of the industrial products company’s stock valued at $217,000 after acquiring an additional 2,345 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of DMC Global by 7.5% during the third quarter. Envestnet Asset Management Inc. now owns 13,322 shares of the industrial products company’s stock worth $213,000 after purchasing an additional 929 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of DMC Global in a research report on Thursday, May 18th. They set a “hold” rating on the stock.

Check Out Our Latest Research Report on BOOM

DMC Global Company Profile

(Get Free Report)

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, and sun control products; sliding and glazing systems; and thermally broken steel, aluminum windows and doors, and wood doors and windows.