SCHEDULE: Steel Partners Reduces DMC Global Stake to 7.3%

Steel Partners Holdings L.P. and its affiliates have reduced their beneficial ownership in DMC Global Inc. to 7.3% through recent open market sales.

Summary

• Steel Partners Holdings L.P. and its affiliates, including Steel Connect Sub LLC, reported a reduction in their beneficial ownership of DMC Global Inc. Common Stock.
• As of the filing date, Steel Connect Sub LLC directly owned 1,500,809 shares of DMC Global Inc.
• This ownership represents approximately 7.3% of the 20,590,482 shares outstanding as of October 31, 2025, as reported in DMC Global Inc.'s Quarterly Report on Form 10-Q.
• The aggregate purchase price for the 1,500,809 shares owned by Steel Connect Sub LLC was approximately $22,633,031, acquired using cash on hand.
• Since the filing of Amendment No. 5 to the Schedule 13D, Steel Connect Sub LLC sold a total of 232,396 shares in open market transactions.
• These sales occurred between February 9, 2026, and February 18, 2026, at prices ranging from $8.6213 to $8.7000 per share.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a moderately negative development for DMC Global Inc. as a significant institutional investor has reduced its stake, potentially signaling diminished confidence or a strategic shift away from the company.

Negatives

• Steel Partners Holdings L.P. and its affiliates have reduced their beneficial ownership in DMC Global Inc., indicating a potential decrease in conviction or a strategic divestment.
• The sales of 232,396 shares occurred over several days in February 2026, which could be interpreted as a lack of confidence in the issuer's near-term prospects.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that a reduction in stake by a significant institutional investor like Steel Partners Holdings L.P. in a company like DMC Global Inc. (which operates in diversified industrial markets) can sometimes signal a shift in investment strategy or a re-evaluation of the target company's prospects. Such moves are closely watched by the market, especially when the investor has a history of activist involvement.

Stakeholder Impact

• Shareholders: Existing shareholders may view the reduction in stake by Steel Partners as a negative signal, potentially leading to downward pressure on the stock price.
• Management: Management might face increased scrutiny regarding the company's performance or strategic direction that could have prompted the divestment.

Key Dates

Recommendation

The reduction in beneficial ownership by Steel Partners Holdings L.P. and its affiliates, a notable institutional investor, suggests a potential re-evaluation of DMC Global Inc.'s prospects or a strategic portfolio adjustment. While not an outright sell signal without further fundamental analysis of DMC Global, this divestment by a significant shareholder warrants caution. Investors should hold and monitor the company's performance and any further disclosures from Steel Partners or DMC Global.

Keywords

DMC Global Inc., Steel Partners Holdings, Schedule 13D/A, Beneficial Ownership, Share Sales, Institutional Investor, Common Stock, SEC Filing, Equity Stake