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

Doman Building Materials Group Ltd. (TSE:DBM)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$11.69 and last traded at C$11.65, with a volume of 166410 shares changing hands. The stock had previously closed at C$11.37.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Desjardins boosted 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 report on Tuesday, May 12th. Stifel Nicolaus increased their price target on shares of 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. National Bank Financial raised their price objective on shares of 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. Finally, Royal Bank Of Canada boosted their target price 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. 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, the company currently has an average rating of “Buy” and an average target price of C$12.21.

Doman Building Materials Group Stock Performance

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 firm has a market capitalization of C$1.01 billion, a PE ratio of 12.50 and a beta of 1.51. The company’s fifty day moving average price is C$10.85 and its two-hundred day moving average price is C$10.25.

Doman Building Materials Group (TSE:DBM) last issued its quarterly earnings data on Friday, May 8th. The company reported C$0.27 EPS for the quarter. Doman Building Materials Group had a return on equity of 12.52% and a net margin of 2.61%.The company had revenue of C$761.97 million for the quarter. As a group, equities 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 business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were issued a $0.14 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.56 annualized dividend and a yield of 4.9%. Doman Building Materials Group’s dividend payout ratio is currently 60.87%.

Insider Buying and Selling

In related news, insider Darren John Alexander Gwozd acquired 5,200 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average cost of C$10.35 per share, with a total value of C$53,820.00. Following the acquisition, the insider directly owned 5,200 shares in the company, valued at approximately C$53,820. The trade was 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.