Cambrex Co. (CBM) Stake Lowered by Smith Asset Management Group LP
Smith Asset Management Group LP decreased its stake in Cambrex Co. (NYSE:CBM) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 71,090 shares of the company’s stock after selling 910 shares during the period. Smith Asset Management Group LP’s holdings in Cambrex were worth $3,677,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. RS Investment Management Co. LLC acquired a new position in shares of Cambrex during the second quarter valued at $4,351,000. Louisiana State Employees Retirement System boosted its stake in shares of Cambrex by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $735,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Cambrex during the second quarter valued at approximately $877,000. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Cambrex by 60.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 32,120 shares of the company’s stock valued at $1,661,000 after buying an additional 12,097 shares during the last quarter. Finally, Meritage Portfolio Management purchased a new stake in shares of Cambrex during the second quarter valued at approximately $4,709,000. 99.46% of the stock is owned by institutional investors and hedge funds.
Shares of Cambrex Co. (NYSE:CBM) traded down 1.00% during mid-day trading on Thursday, hitting $46.30. The company had a trading volume of 382,063 shares. The firm has a market capitalization of $1.49 billion, a P/E ratio of 23.41 and a beta of 1.45. Cambrex Co. has a 12 month low of $29.50 and a 12 month high of $59.41. The firm has a 50-day moving average price of $45.44 and a 200 day moving average price of $47.51.
Cambrex (NYSE:CBM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.09. Cambrex had a return on equity of 24.86% and a net margin of 13.97%. The firm had revenue of $118.22 million for the quarter, compared to analysts’ expectations of $114.85 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Cambrex’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Cambrex Co. will post $2.56 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Cambrex from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
In other Cambrex news, Director William B. Korb sold 3,420 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $55.00, for a total transaction of $188,100.00. Following the sale, the director now owns 23,982 shares in the company, valued at $1,319,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.63% of the company’s stock.
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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