Municipal Employees Retirement System of Michigan Acquires 14,410 Shares of Psychemedics Corp. (PMD)

Municipal Employees Retirement System of Michigan grew its holdings in shares of Psychemedics Corp. (NASDAQ:PMD) by 32.4% during the 4th quarter, Holdings Channel reports. The firm owned 58,900 shares of the company’s stock after buying an additional 14,410 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Psychemedics were worth $1,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LPL Financial LLC acquired a new stake in Psychemedics during the 4th quarter worth $469,000. Two Sigma Investments LP acquired a new stake in Psychemedics during the 4th quarter worth $217,000. Moors & Cabot Inc. boosted its position in shares of Psychemedics by 10.8% during the 4th quarter. Moors & Cabot Inc. now owns 373,296 shares of the company’s stock valued at $7,670,000 after acquiring an additional 36,236 shares during the last quarter. Tieton Capital Management LLC boosted its position in shares of Psychemedics by 11.5% during the 4th quarter. Tieton Capital Management LLC now owns 285,903 shares of the company’s stock valued at $5,878,000 after acquiring an additional 29,544 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Psychemedics by 248.9% during the 4th quarter. Bank of New York Mellon Corp now owns 39,206 shares of the company’s stock valued at $806,000 after acquiring an additional 27,968 shares during the last quarter. 55.63% of the stock is currently owned by institutional investors.

How to Become a New Pot Stock Millionaire

Shares of Psychemedics Corp. (PMD) opened at $20.07 on Tuesday. The stock has a market cap of $110.06, a PE ratio of 18.25 and a beta of 0.73. Psychemedics Corp. has a fifty-two week low of $15.99 and a fifty-two week high of $27.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.72 and a quick ratio of 2.72.

Psychemedics (NASDAQ:PMD) last issued its quarterly earnings data on Wednesday, March 7th. The company reported $0.22 earnings per share (EPS) for the quarter. The firm had revenue of $9.76 million for the quarter. Psychemedics had a net margin of 15.42% and a return on equity of 30.07%.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 19th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $0.60 dividend on an annualized basis and a yield of 2.99%. Psychemedics’s dividend payout ratio (DPR) is presently 54.55%.

COPYRIGHT VIOLATION WARNING: “Municipal Employees Retirement System of Michigan Acquires 14,410 Shares of Psychemedics Corp. (PMD)” was reported by Stock Observer and is the sole property of of Stock Observer. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.thestockobserver.com/2018/03/20/municipal-employees-retirement-system-of-michigan-acquires-14410-shares-of-psychemedics-corp-pmd.html.

About Psychemedics

Psychemedics Corporation (Psychemedics) provides hair testing for drugs of abuse, utilizing a hair analysis method involving digestion of hair, enzyme immunoassay (EIA) technology and confirmation by mass spectrometry to analyze human hair to detect abused substances. The Company operates in drug testing services segment.

Want to see what other hedge funds are holding PMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Psychemedics Corp. (NASDAQ:PMD).

Institutional Ownership by Quarter for Psychemedics (NASDAQ:PMD)

Receive News & Ratings for Psychemedics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Psychemedics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply