On August 26, 2023, it was reported that Barrow Hanley Mewhinney & Strauss LLC, an investment management firm, has decreased its holdings in Mirion Technologies, Inc. (NYSE:MIR) by 8.6% during the first quarter of the year. This information was disclosed in their latest filing with the Securities and Exchange Commission (SEC).
Prior to the sale of shares, Barrow Hanley Mewhinney & Strauss LLC owned a total of 1,220,461 shares of Mirion Technologies’ stock. However, after selling 115,446 shares during the period, they now hold approximately 0.54% of the company’s shares worth $10,423,000 as of the end of the most recent quarter.
Mirion Technologies is a notable player in the market and its financial performance is closely observed by investors. Consequently, its recent earnings results have garnered attention. On Wednesday, August 2nd, Mirion Technologies announced its earnings for the quarter ended on that date.
According to public disclosures made by Mirion Technologies, the company reported earnings per share (EPS) of $0.06 for the quarter under review. Additionally, their return on equity (ROE) stood at 2.02%, indicating a moderate profitability level. However, it is worth mentioning that their net margin recorded a negative figure of -36.46%.
Moreover, during this period, Mirion Technologies generated revenue amounting to $197.20 million. This financial figure reveals the company’s sales performance during this particular quarter.
It remains to be seen how these developments will affect both Barrow Hanley Mewhinney & Strauss LLC and Mirion Technologies moving forward in terms of investment strategies and business operations respectively.
As always when considering investments or evaluating companies’ financial performances based on publicly available information such as SEC filings and earnings reports listed on stock exchanges like NYSE, it is crucial to contextualize and analyze these data points with caution.
In conclusion, Barrow Hanley Mewhinney & Strauss LLC has decreased its holdings in Mirion Technologies during the first quarter of 2023. Meanwhile, Mirion Technologies reported their earnings for the same period, revealing a positive EPS alongside a moderate ROE but suffered from a negative net margin. These financial figures provide valuable insights into the current state of affairs at both companies and are essential reference material for investors and analysts alike.
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Mirion Technologies: Recent Developments in Stakeholder Landscape and Future Outlook
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”MIR” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Mirion Technologies, a leading provider of radiation detection and measurement solutions, has seen some interesting developments in its stakeholder landscape recently. Notably, several large investors have made adjustments to their holdings in the company. The Arizona State Retirement System, for instance, grew its stake in Mirion Technologies by 4.1% during the fourth quarter. This move increased the number of shares owned by the retirement system to 36,695, with an estimated value of $243,000.
In a similar vein, ProShare Advisors LLC also saw fit to expand its stake in Mirion Technologies by 16.7% during the same period. This decision resulted in an additional 2,524 shares for ProShare Advisors LLC and raised its total ownership to 17,628 shares valued at $117,000.
Another significant investor that increased its holding in Mirion Technologies is Price T Rowe Associates Inc. MD. With a growth rate of 12.8% during the fourth quarter of last year, it acquired an additional 2,742 shares of the company’s stock worth approximately $160,000. In conjunction with other investors’ actions and adjustments within their portfolios, these movements will undoubtedly contribute to shaping Mirion Technologies’ future trajectory.
Quantbot Technologies LP followed suit by significantly increasing its ownership percentage in Mirion Technologies by an astounding 143% during the second quarter of this year alone. As a result of this move, Quantbot Technologies LP now possesses 5,170 shares valued at around $29,000.
The Manufacturers Life Insurance Company also demonstrated interest in the industry leader by growing its stake by 6.1% during the fourth quarter last yearan acquisition that added an impressive 3,176 more shares to their portfolio and brought their ownership up to 55,261 shares worth $365,000.
Interestingly enough though identified as institutional investors and hedge funds comprise a whopping majority of Mirion Technologies’ ownership, which stands at 83.49% as of the latest reporting period available.
In May 2023, Citigroup initiated coverage on Mirion Technologies and issued a “buy” rating for the company. This development reflects the growing interest and confidence that financial institutions have in the future prospects of the company’s stock.
Furthermore, corporate insiders have also made noteworthy moves within the company. CAO Christopher A. Moore engaged in a significant stock sale transaction on May 30th, where he sold 3,430 shares with an average price per share of $7.92. The total value of this transaction amounted to $27,165.60. Following this transaction, Moore now holds 32,206 shares in Mirion Technologies worth an estimated value of $255,071.52.
Mirion Technologies’ stock recently traded at $8.02 during mid-day trading on August 26th, slightly higher than its previous close at $7.91. The company experienced a trading volume of 270,848 shares compared to its average volume of 1,374,105.
With regards to its financial standing and performance indicators, Mirion Technologies has shown stability and strength overall. As of now, it has demonstrated a market capitalization of $1.81 billion and operates with a debt-to-equity ratio of 0.43a favorable indicator highlighting efficient capital structure management.
Additionally, the company boasts a quick ratio of 1.52 and current ratio of 2.24both metrics signify robust liquidity levels allowing for timely payment of obligations when they come due.
Mirion Technologies has charted notable success within its fifty-two week average range between $5.59 and $9.53 per share as recorded till date.
As investors continue to make adjustments to their positions in Mirion Technologies and industry analysts recognize its potential growth opportunities by assigning positive ratings such as “buy”, stakeholders will undoubtedly keep a close eye on the company’s ongoing developments and future performance.
