Municipal Employees Retirement System of Michigan lowered its stake in Psychemedics Corporation (NASDAQ:PMD) by 15.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,490 shares of the company’s stock after selling 8,290 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Psychemedics Corporation were worth $1,110,000 as of its most recent SEC filing.

Separately, Carl Domino Inc raised its position in Psychemedics Corporation by 0.6% in the second quarter. Carl Domino Inc now owns 14,485 shares of the company’s stock worth $361,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 54.66% of the company’s stock.

Psychemedics Corporation (PMD) opened at 20.78 on Friday. The stock has a market cap of $114.10 million, a price-to-earnings ratio of 15.34 and a beta of 1.00. The company’s 50 day moving average price is $24.73 and its 200-day moving average price is $21.90. Psychemedics Corporation has a 12-month low of $13.81 and a 12-month high of $27.99.

Psychemedics Corporation (NASDAQ:PMD) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.16 earnings per share for the quarter. Psychemedics Corporation had a net margin of 17.59% and a return on equity of 47.94%. The business had revenue of $9.68 million during the quarter. On average, analysts forecast that Psychemedics Corporation will post $0.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Monday, August 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, August 10th. Psychemedics Corporation’s dividend payout ratio is presently 44.44%.

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Psychemedics Corporation Company Profile

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.

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Institutional Ownership by Quarter for Psychemedics Corporation (NASDAQ:PMD)

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