In This Article:
Middle Coast Investing, an investment advisor firm, released its third-quarter investor letter. A copy of the letter can be downloaded here. It was a frustrating quarter for the firm. The portfolio appreciated in the quarter but lagged the main indices and closer benchmarks. The portfolio’s price to earnings for the trailing 12 months (TTM) was 19.7. Cash and equivalents accounted for 17.1% of the portfolio at the end of the quarter, with an estimated average yield of 3%. This compares to 13.4% of the portfolio and a 3.9% yield at the end of Q2. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Middle Coast Investing highlighted stocks like DMC Global Inc. (NASDAQ:BOOM) in the third quarter 2024 investor letter. DMC Global Inc. (NASDAQ:BOOM) offers a suite of engineered products and various solutions for the construction, energy, industrial processing, and transportation markets. The one-month return of DMC Global Inc. (NASDAQ:BOOM) was 27.79%, and its shares lost 39.02% of their value over the last 52 weeks. On October 7, 2024, DMC Global Inc. (NASDAQ:BOOM) stock closed at $13.75 per share with a market capitalization of $275.534 million.
Middle Coast Investing stated the following regarding DMC Global Inc. (NASDAQ:BOOM) in its Q3 2024 investor letter:
"DMC Global Inc. (NASDAQ:BOOM) – This is a special situation, similar to Vimeo in Q1. There is an offer on the table to buy DMC Global at $16.5/share. It looks credible, but DMC and its buyer – a billionaire – have not talked with each other.
An aerial view of an energy refinery, with massive tanks and piping defining the landscape.
DMC Global Inc. (NASDAQ:BOOM) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held DMC Global Inc. (NASDAQ:BOOM) at the end of the second quarter which was 16 in the previous quarter. DMC Global Inc. (NASDAQ:BOOM) reported $171.2 million in sales in the second quarter up 3% sequentially and down 9% from Q2 2023. While we acknowledge the potential of DMC Global Inc. (NASDAQ:BOOM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.