533,783 Shares in Elmet Group Co. $ELMT Purchased by Wellington Management Group LLP

Wellington Management Group LLP bought a new position in shares of Elmet Group Co. (NASDAQ:ELMT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 533,783 shares of the company’s stock, valued at approximately $10,537,000.

Separately, AWM Investment Company Inc. bought a new stake in shares of Elmet Group in the 2nd quarter valued at about $6,807,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ELMT. Needham & Company LLC started coverage on shares of Elmet Group in a research report on Monday, May 18th. They issued a “buy” rating and a $21.00 price target for the company. Roth Capital began coverage on shares of Elmet Group in a report on Monday, May 18th. They set a “buy” rating and a $21.00 price objective on the stock. Weiss Ratings started coverage on Elmet Group in a report on Monday, July 20th. They set a “sell (e)” rating for the company. Canaccord Genuity Group upped their target price on Elmet Group from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, Cantor Fitzgerald started coverage on Elmet Group in a report on Monday, May 18th. They issued an “overweight” rating and a $20.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.75.

Elmet Group Price Performance

Shares of ELMT stock opened at $16.78 on Tuesday. Elmet Group Co. has a 1-year low of $12.48 and a 1-year high of $22.51. The stock’s fifty day simple moving average is $16.28. The company has a current ratio of 3.03, a quick ratio of 1.60 and a debt-to-equity ratio of 0.04. The stock has a market cap of $511.12 million and a P/E ratio of 40.93.

Elmet Group (NASDAQ:ELMT) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.38. The business had revenue of $66.40 million during the quarter. Elmet Group’s revenue was up 35.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Elmet Group Co. will post 0.53 earnings per share for the current 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.