Cabot Microelectronics Co. (CCMP) Position Maintained by Kessler Investment Group LLC
Kessler Investment Group LLC held its stake in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,480 shares of the semiconductor company’s stock at the end of the first quarter. Kessler Investment Group LLC’s holdings in Cabot Microelectronics were worth $113,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Cabot Microelectronics during the fourth quarter valued at $24,657,000. Perkins Investment Management LLC boosted its stake in shares of Cabot Microelectronics by 90.6% in the third quarter. Perkins Investment Management LLC now owns 508,795 shares of the semiconductor company’s stock valued at $26,920,000 after buying an additional 241,786 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Cabot Microelectronics during the third quarter valued at $8,413,000. Russell Investments Group Ltd. bought a new stake in shares of Cabot Microelectronics during the fourth quarter valued at $9,551,000. Finally, BlackRock Fund Advisors boosted its stake in shares of Cabot Microelectronics by 9.0% in the third quarter. BlackRock Fund Advisors now owns 1,678,455 shares of the semiconductor company’s stock valued at $88,807,000 after buying an additional 137,967 shares during the last quarter. 94.80% of the stock is owned by institutional investors.
Shares of Cabot Microelectronics Co. (NASDAQ:CCMP) traded down 0.24% during midday trading on Wednesday, hitting $71.14. The stock had a trading volume of 170,671 shares. Cabot Microelectronics Co. has a 1-year low of $38.37 and a 1-year high of $77.04. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 24.92 and a beta of 1.33. The firm’s 50-day moving average price is $72.22 and its 200-day moving average price is $63.99.
Cabot Microelectronics (NASDAQ:CCMP) last posted its earnings results on Thursday, January 26th. The semiconductor company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.19. Cabot Microelectronics had a return on equity of 15.81% and a net margin of 15.53%. The firm had revenue of $123.30 million for the quarter, compared to the consensus estimate of $114.63 million. During the same quarter in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. Analysts forecast that Cabot Microelectronics Co. will post $3.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, March 23rd will be issued a dividend of $0.20 per share. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. Cabot Microelectronics’s dividend payout ratio is 25.35%.
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Several equities research analysts have recently weighed in on CCMP shares. Citigroup Inc increased their price target on Cabot Microelectronics to $75.00 and gave the company a “neutral” rating in a research note on Monday, March 20th. Aegis raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Friday, March 17th.
In other Cabot Microelectronics news, Director William P. Noglows sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $67.25, for a total transaction of $5,043,750.00. Following the transaction, the director now owns 162,828 shares in the company, valued at approximately $10,950,183. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas S. Roman sold 1,681 shares of the company’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $69.94, for a total value of $117,569.14. Following the transaction, the insider now owns 12,448 shares in the company, valued at approximately $870,613.12. The disclosure for this sale can be found here. Insiders have sold a total of 190,044 shares of company stock worth $12,959,195 in the last quarter. Company insiders own 5.50% of the company’s stock.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.
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