Principal Financial Group Inc. Buys 529 Shares of Cambrex Corp. (CBM)
Principal Financial Group Inc. raised its position in shares of Cambrex Corp. (NYSE:CBM) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 390,819 shares of the company’s stock after buying an additional 529 shares during the period. Principal Financial Group Inc. owned approximately 1.22% of Cambrex Corp. worth $20,217,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL raised its stake in Cambrex Corp. by 0.3% in the second quarter. Blair William & Co. IL now owns 17,301 shares of the company’s stock worth $895,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Cambrex Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock worth $735,000 after buying an additional 100 shares during the last quarter. Insight Capital Research & Management Inc. raised its stake in Cambrex Corp. by 0.3% in the first quarter. Insight Capital Research & Management Inc. now owns 70,136 shares of the company’s stock worth $3,086,000 after buying an additional 180 shares during the last quarter. Aperio Group LLC raised its stake in Cambrex Corp. by 3.0% in the first quarter. Aperio Group LLC now owns 7,576 shares of the company’s stock worth $333,000 after buying an additional 221 shares during the last quarter. Finally, Suntrust Banks Inc. raised its stake in Cambrex Corp. by 2.8% in the second quarter. Suntrust Banks Inc. now owns 10,970 shares of the company’s stock worth $566,000 after buying an additional 298 shares during the last quarter. Institutional investors own 99.46% of the company’s stock.
Shares of Cambrex Corp. (NYSE:CBM) opened at 44.46 on Friday. The company’s 50 day moving average price is $45.06 and its 200 day moving average price is $47.67. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.45. Cambrex Corp. has a one year low of $29.50 and a one year high of $59.41.
Cambrex Corp. (NYSE:CBM) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.09. The business earned $118.22 million during the quarter, compared to the consensus estimate of $114.85 million. Cambrex Corp. had a net margin of 13.97% and a return on equity of 24.86%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, analysts expect that Cambrex Corp. will post $2.56 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded Cambrex Corp. from a “hold” rating to a “strong-buy” rating and set a $55.00 target price for the company in a report on Wednesday, August 3rd.
In related news, Director William B. Korb sold 3,420 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $55.00, for a total value of $188,100.00. Following the completion of the transaction, the director now owns 23,982 shares of the company’s stock, valued at approximately $1,319,010. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.63% of the stock is currently owned by corporate insiders.
Cambrex Corp. Company Profile
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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