Psychemedics Co. (PMD) to Issue Quarterly Dividend of $0.07 on June 8th

Psychemedics Co. (NASDAQ:PMD – Get Rating) declared a quarterly dividend on Tuesday, May 9th, Zacks reports. Stockholders of record on Thursday, May 25th will be paid a dividend of 0.07 per share on Thursday, June 8th. This represents a $0.28 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Wednesday, May 24th.

Psychemedics has decreased its dividend by an average of 33.7% annually over the last three years and has increased its dividend annually for the last 1 consecutive years.

Psychemedics Trading Up 0.2 %

Shares of PMD opened at $5.00 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.65 and a current ratio of 1.65. Psychemedics has a fifty-two week low of $4.82 and a fifty-two week high of $6.94. The firm’s 50-day simple moving average is $5.37 and its two-hundred day simple moving average is $5.50.

Psychemedics (NASDAQ:PMD – Get Rating) last announced its quarterly earnings data on Tuesday, March 21st. The company reported ($0.12) earnings per share for the quarter. Psychemedics had a negative return on equity of 13.52% and a negative net margin of 6.13%. The business had revenue of $5.70 million during the quarter.

Institutional Investors Weigh In On Psychemedics

A hedge fund recently raised its stake in Psychemedics stock. Ancora Advisors LLC grew its position in shares of Psychemedics Co. (NASDAQ:PMD – Get Rating) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,373 shares of the company’s stock after buying an additional 7,457 shares during the quarter. Ancora Advisors LLC owned 1.37% of Psychemedics worth $411,000 as of its most recent filing with the Securities & Exchange Commission. 26.23% of the stock is currently owned by institutional investors and hedge funds.

About Psychemedics

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Psychemedics Corp. engages in the provision of drug testing services through the analysis of hair samples. It specializes in a five panel drug testing process for cocaine, opioids, Phenyclidine, amphetamines, and marijuana. It offers workplace, school, and personal drug testing services. The company was founded by Werner Baumgartner and Annette Baumgartner on September 24, 1986 and is headquartered in Acton, MA.