Brickwood Asset Management Boosts Stake in DENTSPLY SIRONA by 5,500%

Brickwood Asset Management LLP has significantly increased its investment in DENTSPLY SIRONA Inc. by an astonishing 5,515.8% during the third quarter of 2023. According to Holdings Channel, the firm now owns 1,524,074 shares of the dental products supplier after acquiring an additional 1,496,935 shares during this period. This investment now represents approximately 14.7% of Brickwood’s overall portfolio, making DENTSPLY SIRONA the firm’s fifth largest position, valued at around $19,340,000 as of its latest filing with the Securities and Exchange Commission.

A number of other institutional investors have also adjusted their holdings in DENTSPLY SIRONA. For instance, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. initiated a new position in the company in the first quarter, valued at $26,000. Meanwhile, Parkside Financial Bank & Trust expanded its stake by 620.6% during the second quarter, now owning 1,715 shares valued at $27,000. True Wealth Design LLC similarly increased its investment by 273.0%, totaling 2,376 shares worth $38,000 after acquiring an additional 1,739 shares.

Central Pacific Bank Trust Division also doubled its holdings by acquiring 2,000 additional shares during the third quarter, bringing its total to 4,000 shares valued at $51,000. Additionally, Versant Capital Management Inc. raised its position by 878.6%, now holding 4,883 shares worth $62,000. The collective ownership of institutional investors and hedge funds now stands at an impressive 95.70% of DENTSPLY SIRONA’s stock.

Current Stock Performance and Market Insights

On the market front, DENTSPLY SIRONA shares opened at $12.54 on Friday, reflecting a market capitalization of $2.50 billion. The company’s stock has experienced fluctuations, with a one-year low of $9.85 and a one-year high of $19.27. As for financial ratios, DENTSPLY SIRONA has a price-to-earnings (PE) ratio of -2.84, a price-to-earnings-growth ratio of 0.98, and a beta of 1.01. The company’s fifty-day moving average is $12.23, while the 200-day moving average sits at $12.49.

In terms of dividend activity, DENTSPLY SIRONA recently announced a quarterly dividend of $0.16 per share, which was paid on January 9, 2024. Shareholders of record on December 26, 2023 received this dividend, resulting in an annualized yield of 5.1%. Currently, the company’s dividend payout ratio (DPR) is reported at -14.48%.

Insider Trading Activity

In other corporate developments, Director Gregory T. Lucier sold 82,200 shares of the company’s stock in a transaction executed on December 8, 2023. The shares were sold at an average price of $11.14, culminating in a total transaction value of approximately $915,708.00. This transaction has been disclosed in a filing with the SEC.

Corporate insiders currently hold 0.50% of DENTSPLY SIRONA’s stock. The company, established through the merger of Dentsply International and Sirona Dental Systems in February 2016, is a leading global manufacturer of professional dental products and technologies. Headquartered in Charlotte, North Carolina, DENTSPLY SIRONA specializes in a comprehensive range of dental consumables, laboratory products, and advanced imaging and CAD/CAM systems, covering various aspects of dental care.

As DENTSPLY SIRONA continues to attract substantial investment from institutional players, market analysts will be keenly observing the company’s performance and future prospects within the dental products sector.