The SDI Limited (ASX: SDI) share price hit a 52-week high of 64 cents today, despite the dental products manufacturer releasing no specific news to the market.
Victoria-based SDI sells its dental materials such as amalgam, aesthetic and whitening products, with the company exporting more than 90% of its products overseas for distribution to more than 100 countries.
In FY 2018 it grew net profit 1.5% to $5.7 million, with its second half profit up 27% on the prior corresponding half-year period.
It’s the momentum of improving sales over the second half that is probably encouraging investors to bid the stock higher as it transitions from an amalgam company more into the whitening and aesthetics space.
It paid dividends totalling 2.5 cents per share over FY 2018 on 4.8 cents in earnings per share over the year. As such it offers a trailing yield of 3.9% on a price-to-earnings multiple of 13.3.