Doman Building Materials Group (TSE:DBM) Reaches New 52-Week High – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$11.36 and last traded at C$11.29, with a volume of 112920 shares changing hands. The stock had previously closed at C$11.19.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Doman Building Materials Group from C$12.00 to C$12.25 and gave the company a “buy” rating in a report on Tuesday, May 12th. National Bank Financial lifted their price target on Doman Building Materials Group from C$12.50 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Desjardins boosted their price objective on Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada raised their target price on Doman Building Materials Group from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Raymond James Financial boosted their price target on Doman Building Materials Group from C$11.00 to C$12.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$12.21.

Doman Building Materials Group Trading Up 0.9%

The business’s 50 day moving average price is C$10.44 and its two-hundred day moving average price is C$10.03. The company has a debt-to-equity ratio of 175.88, a quick ratio of 1.11 and a current ratio of 3.94. The company has a market capitalization of C$990.84 million, a price-to-earnings ratio of 12.27 and a beta of 1.54.

Doman Building Materials Group (TSE:DBM) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.27 EPS for the quarter. Doman Building Materials Group had a net margin of 2.61% and a return on equity of 12.52%. The business had revenue of C$761.97 million for the quarter. Equities analysts forecast that Doman Building Materials Group Ltd. will post 0.8051471 earnings per share for the current fiscal year.

Doman Building Materials Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.56 annualized dividend and a dividend yield of 5.0%. Doman Building Materials Group’s dividend payout ratio (DPR) is 60.87%.

Insider Activity at Doman Building Materials Group

In other news, insider Darren John Alexander Gwozd acquired 5,200 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of C$10.35 per share, for a total transaction of C$53,820.00. Following the completion of the acquisition, the insider directly owned 5,200 shares in the company, valued at C$53,820. This represents a ∞ increase in their position. Corporate insiders own 20.04% of the company’s stock.

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. Its operations also include timber ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through CanWel Fibre Corp.