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

Investment firm Brickwood Asset Management LLP significantly expanded its holdings in DENTSPLY SIRONA Inc. (NASDAQ: XRAY), increasing its stake by an impressive 5,515.8% during the third quarter of 2023. According to data from Holdings Channel, the firm now owns 1,524,074 shares of the dental products manufacturer after acquiring an additional 1,496,935 shares in the period. This investment now constitutes approximately 14.7% of Brickwood’s overall portfolio, making DENTSPLY SIRONA its fifth largest position.

As of the latest filing with the Securities and Exchange Commission, Brickwood’s investments in DENTSPLY SIRONA are valued at around $19,340,000. This surge in investment highlights growing confidence in the company among institutional investors, many of whom have also adjusted their holdings in recent months.

In addition to Brickwood’s significant purchase, other large investors have been active in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. entered a new position in the first quarter, valued at approximately $26,000. Parkside Financial Bank & Trust increased its holdings by 620.6% during the second quarter, now owning 1,715 shares worth $27,000 after purchasing an additional 1,477 shares. Similarly, True Wealth Design LLC expanded its position by 273.0%, owning 2,376 shares valued at $38,000 after an additional purchase of 1,739 shares.

The Central Pacific Bank Trust Division also reported a 100.0% increase in its holdings during the third quarter, now owning 4,000 shares valued at $51,000. Additionally, Versant Capital Management Inc. boosted its stake by 878.6%, acquiring 4,883 shares worth $62,000.

Currently, institutional investors and hedge funds control approximately 95.70% of DENTSPLY SIRONA’s stock, illustrating a strong institutional backing for the company.

Stock Performance and Dividend Announcements

As of the latest trading session, DENTSPLY SIRONA’s stock opened at $12.54 and has a market capitalization of $2.50 billion. The stock has experienced fluctuations, with a one-year low of $9.85 and a high of $19.27. It currently holds a price-to-earnings ratio of -2.84 and a price-to-earnings-growth ratio of 0.98, alongside a beta of 1.01.

The company recently announced a quarterly dividend of $0.16, which was paid on January 9, 2024 to shareholders on record as of December 26, 2023. This marks an annualized dividend of $0.64, yielding approximately 5.1%. Notably, DENTSPLY SIRONA’s dividend payout ratio stands at -14.48%, indicating that the company is currently reinvesting more into its operations than it is returning to shareholders.

Insider Trading Activity

In related news, Gregory T. Lucier, a director at DENTSPLY SIRONA, sold 82,200 shares of the company’s stock on December 8, 2023, at an average price of $11.14. The total transaction was valued at approximately $915,708, and details of the sale were disclosed in a filing with the SEC.

Corporate insiders hold 0.50% of DENTSPLY SIRONA’s stock, reflecting a modest insider investment in the company. These transactions and stock movements indicate a dynamic investment environment surrounding DENTSPLY SIRONA, as both institutional and insider confidence in the company’s future appears to be strengthening.

DENTSPLY SIRONA, headquartered in Charlotte, North Carolina, is a leading global manufacturer of professional dental products and technologies. The company has a robust portfolio that includes dental consumables, laboratory products, and advanced imaging and CAD/CAM systems, reflecting its long-standing commitment to innovation in dental care.