Doman Building Materials Group (TSE:DBM) Trading 11.1% Higher – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM) rose 11.1% during trading on Friday . The stock traded as high as C$8.08 and last traded at C$7.93. Approximately 349,145 shares traded hands during trading, an increase of 57% from the average daily volume of 222,295 shares. The stock had previously closed at C$7.14.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DBM. Stifel Nicolaus cut their target price on shares of Doman Building Materials Group from C$9.00 to C$8.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. TD Securities set a C$9.50 target price on Doman Building Materials Group and gave the company a “buy” rating in a research note on Tuesday, March 25th. Royal Bank of Canada dropped their price target on Doman Building Materials Group from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Raymond James decreased their price objective on Doman Building Materials Group from C$12.00 to C$11.50 in a report on Thursday, January 30th. Finally, Cibc World Mkts downgraded shares of Doman Building Materials Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Doman Building Materials Group has an average rating of “Moderate Buy” and an average price target of C$9.93.

Doman Building Materials Group Trading Up 13.3 %

The company has a debt-to-equity ratio of 112.91, a current ratio of 2.94 and a quick ratio of 1.11. The firm’s fifty day moving average is C$6.86 and its two-hundred day moving average is C$7.92. The firm has a market capitalization of C$707.06 million, a PE ratio of 12.50 and a beta of 1.53.

Doman Building Materials Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend was Monday, March 31st. Doman Building Materials Group’s dividend payout ratio is presently 86.55%.

Insider Buying and Selling

In related news, Director Marc Seguin acquired 10,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of C$6.93 per share, with a total value of C$69,300.00. 20.04% of the stock is currently owned by corporate insiders.

Doman Building Materials Group Company Profile

Doman Building Materials Group Ltd is a wholesale distributor of building materials and home renovation products. The company services the new home construction, home renovation and industrial markets by supplying the retail and wholesale lumber and building materials industry, hardware stores, industrial and furniture manufacturers and similar concerns.