Granite Investment Partners LLC decreased its stake in shares of Dynamic Materials Corp. (NASDAQ:BOOM) by 37.5% during the third quarter, Holdings Channel reports. The firm owned 117,224 shares of the company’s stock after selling 70,318 shares during the period. Granite Investment Partners LLC owned 0.81% of Dynamic Materials Corp. worth $1,249,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Dynamic Materials Corp. by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 73,897 shares of the company’s stock valued at $788,000 after buying an additional 1,625 shares during the period. California Public Employees Retirement System boosted its position in shares of Dynamic Materials Corp. by 3.8% in the third quarter. California Public Employees Retirement System now owns 76,400 shares of the company’s stock valued at $814,000 after buying an additional 2,800 shares during the period. Acadian Asset Management LLC boosted its position in shares of Dynamic Materials Corp. by 186.1% in the third quarter. Acadian Asset Management LLC now owns 11,204 shares of the company’s stock valued at $120,000 after buying an additional 7,288 shares during the period. Nationwide Fund Advisors boosted its position in shares of Dynamic Materials Corp. by 10.4% in the second quarter. Nationwide Fund Advisors now owns 89,403 shares of the company’s stock valued at $961,000 after buying an additional 8,394 shares during the period. Finally, Strs Ohio bought a new position in shares of Dynamic Materials Corp. during the third quarter valued at $135,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

Institutional Ownership by Quarter for Dynamic Materials Corp. (NASDAQ:BOOM)

Shares of Dynamic Materials Corp. (NASDAQ:BOOM) traded down 1.82% during midday trading on Tuesday, hitting $16.15. The stock has a 50 day moving average price of $12.24 and a 200-day moving average price of $11.11. Dynamic Materials Corp. has a one year low of $4.84 and a one year high of $17.19. The stock’s market cap is $233.88 million.

Dynamic Materials Corp. (NASDAQ:BOOM) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The firm earned $36.60 million during the quarter, compared to analysts’ expectations of $37.57 million. Dynamic Materials Corp. had a negative return on equity of 5.38% and a negative net margin of 12.70%. Dynamic Materials Corp.’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.29) earnings per share. Equities analysts expect that Dynamic Materials Corp. will post ($0.42) earnings per share for the current fiscal year.

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Several brokerages have weighed in on BOOM. Zacks Investment Research upgraded Dynamic Materials Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Roth Capital upgraded Dynamic Materials Corp. from a “neutral” rating to a “buy” rating and set a $14.50 price objective on the stock in a research note on Monday, October 31st.

In related news, Director Yvon Pierre Cariou sold 15,000 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $14.75, for a total value of $221,250.00. Following the sale, the director now directly owns 228,767 shares of the company’s stock, valued at $3,374,313.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

About Dynamic Materials Corp.

Dynamic Materials Corporation operates a family of technical product and process businesses serving the energy, industrial and infrastructure markets. The Company’s segments are NobelClad and DynaEnergetics. The NobelClad segment is engaged in the production of explosion-welded clad metal plates for use in the construction of corrosion resistant industrial processing equipment and specialized transition joints.

5 Day Chart for NASDAQ:BOOM

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