Cabot Microelectronics Corporation (CCMP) Shares Sold by Acadian Asset Management LLC
Acadian Asset Management LLC reduced its stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 49.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,725 shares of the semiconductor company’s stock after selling 64,799 shares during the period. Acadian Asset Management LLC owned about 0.26% of Cabot Microelectronics Corporation worth $4,853,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of Cabot Microelectronics Corporation during the first quarter valued at about $146,000. Bank of Montreal Can raised its stake in shares of Cabot Microelectronics Corporation by 63.2% in the first quarter. Bank of Montreal Can now owns 2,374 shares of the semiconductor company’s stock valued at $182,000 after buying an additional 919 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Cabot Microelectronics Corporation by 6.1% in the first quarter. State of Alaska Department of Revenue now owns 2,770 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 160 shares during the period. Hartford Investment Management Co. bought a new stake in shares of Cabot Microelectronics Corporation during the first quarter valued at about $213,000. Finally, 361 Capital LLC bought a new stake in shares of Cabot Microelectronics Corporation during the first quarter valued at about $213,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Shares of Cabot Microelectronics Corporation (CCMP) traded down 0.68% during mid-day trading on Friday, reaching $71.09. 82,597 shares of the company traded hands. The company’s 50 day moving average is $75.91 and its 200 day moving average is $73.38. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 22.17 and a beta of 1.48. Cabot Microelectronics Corporation has a 52-week low of $47.31 and a 52-week high of $81.85.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The business had revenue of $128 million during the quarter, compared to analyst estimates of $122.17 million. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts forecast that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, June 21st. Cabot Microelectronics Corporation’s payout ratio is 25.08%.
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Several analysts recently issued reports on the stock. BidaskClub upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Needham & Company LLC upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, June 27th.
In other news, Director Barbara A. Klein sold 12,502 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.69, for a total value of $896,268.38. Following the transaction, the director now directly owns 34,561 shares in the company, valued at approximately $2,477,678.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider William S. Johnson sold 11,806 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total value of $870,928.62. Following the completion of the transaction, the insider now owns 94,911 shares in the company, valued at $7,001,584.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,285 shares of company stock worth $7,083,749. 5.50% of the stock is owned by corporate insiders.
About Cabot Microelectronics Corporation
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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