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

Shares of Doman Building Materials Group Ltd. (TSE:DBM) hit a new 52-week high during 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. The stock had previously closed at C$11.19.

Analysts Set New Price Targets

DBM has been the subject of several recent analyst reports. Desjardins raised their target price on Doman Building Materials Group from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Raymond James Financial increased their price target on Doman Building Materials Group from C$11.00 to C$12.00 and gave the company a “strong-buy” rating in a report on Monday, March 9th. Royal Bank Of Canada raised their price objective on Doman Building Materials Group from C$11.00 to C$12.00 and gave the company an “outperform” rating in a research note on Thursday, April 16th. Stifel Nicolaus lifted their price objective on Doman Building Materials Group from C$12.00 to C$12.25 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, National Bank Financial upped their target price on Doman Building Materials Group from C$12.50 to C$13.50 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$12.21.

Doman Building Materials Group Price Performance

The company’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 market cap of C$990.84 million, a P/E ratio of 12.27 and a beta of 1.54. The company has a current ratio of 3.94, a quick ratio of 1.11 and a debt-to-equity ratio of 175.88.

Doman Building Materials Group (TSE:DBM) last issued its earnings results on Friday, May 8th. The company reported C$0.27 earnings per share (EPS) for the quarter. The business had revenue of C$761.97 million for the quarter. Doman Building Materials Group had a net margin of 2.61% and a return on equity of 12.52%. As a group, sell-side analysts expect that Doman Building Materials Group Ltd. will post 0.8051471 earnings per share for the current 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 issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Tuesday, June 30th. Doman Building Materials Group’s payout ratio is 60.87%.

Insider Activity

In other news, insider Darren John Alexander Gwozd purchased 5,200 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of C$10.35 per share, with a total value of C$53,820.00. Following the transaction, the insider owned 5,200 shares in the company, valued at approximately C$53,820. The trade was a ∞ increase in their position. Corporate insiders own 20.04% of the company’s stock.

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.