Doman Building Materials Group (TSE:DBM) Reaches New 12-Month High – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM) shares reached a new 52-week high during trading on Monday . The stock traded as high as C$11.05 and last traded at C$11.09, with a volume of 25164 shares traded. The stock had previously closed at C$10.97.

Wall Street Analyst Weigh In

Several research firms recently commented on DBM. Royal Bank Of Canada lifted their price target on Doman Building Materials Group from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Thursday, April 16th. Desjardins lifted their price target 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. Raymond James Financial lifted 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. National Bank Financial lifted their price objective on shares of Doman Building Materials Group from C$12.50 to C$13.50 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus lifted their price objective on shares of Doman Building Materials Group from C$12.00 to C$12.25 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$12.21.

Doman Building Materials Group Stock Up 0.1%

The company has a 50-day simple moving average of C$10.31 and a 200-day simple moving average of C$9.97. The firm has a market cap of C$972.41 million, a PE ratio of 12.04 and a beta of 1.54. The company has a debt-to-equity ratio of 175.88, a current ratio of 3.94 and a quick ratio of 1.11.

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

Doman Building Materials Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, June 30th. Doman Building Materials Group’s payout ratio is 60.87%.

Insider Activity

In other Doman Building Materials Group news, insider Darren John Alexander Gwozd bought 5,200 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 5,200 shares of the company’s stock, valued at approximately C$53,820. This represents a ∞ increase in their ownership of the stock. 20.04% of the stock is owned by company insiders.

About Doman Building Materials Group

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.