Advisors Asset Management Inc. Invests $216,000 in Cambrex Corp. (CBM)
Advisors Asset Management Inc. purchased a new stake in shares of Cambrex Corp. (NYSE:CBM) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,177 shares of the company’s stock, valued at approximately $216,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Intrust Bank NA purchased a new stake in Cambrex Corp. during the second quarter valued at about $206,000. Pinnacle Financial Partners Inc. purchased a new stake in Cambrex Corp. during the second quarter valued at about $256,000. Bayesian Capital Management LP purchased a new stake in Cambrex Corp. during the first quarter valued at about $276,000. Aperio Group LLC increased 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 valued at $333,000 after buying an additional 221 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in Cambrex Corp. by 15.7% in the first quarter. Glenmede Trust Co. NA now owns 11,888 shares of the company’s stock valued at $522,000 after buying an additional 1,612 shares during the period. Institutional investors and hedge funds own 99.46% of the company’s stock.
Shares of Cambrex Corp. (NYSE:CBM) traded up 2.01% during trading on Tuesday, reaching $46.13. The company’s stock had a trading volume of 83,458 shares. The stock has a market cap of $1.48 billion, a P/E ratio of 23.32 and a beta of 1.57. The stock has a 50-day moving average of $45.01 and a 200-day moving average of $47.80. Cambrex Corp. has a 52-week low of $29.50 and a 52-week 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, topping the consensus estimate of $0.59 by $0.09. The firm earned $118.22 million during the quarter, compared to the consensus estimate of $114.85 million. Cambrex Corp. had a return on equity of 24.86% and a net margin of 13.97%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. Analysts predict that Cambrex Corp. will post $2.56 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded Cambrex Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
In related news, Director William B. Korb sold 3,420 shares of the 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 completion of the sale, the director now directly owns 23,982 shares of the company’s stock, valued at $1,319,010. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.63% of the company’s stock.
About Cambrex Corp.
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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