Connable Office Inc. Reduces Position in Cabot Microelectronics Corporation (CCMP)
Connable Office Inc. decreased its position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 7.5% during the second quarter, Holdings Channel reports. The fund owned 5,110 shares of the semiconductor company’s stock after selling 415 shares during the period. Connable Office Inc.’s holdings in Cabot Microelectronics Corporation were worth $377,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Strs Ohio raised its position in shares of Cabot Microelectronics Corporation by 14.2% in the first quarter. Strs Ohio now owns 14,500 shares of the semiconductor company’s stock worth $1,110,000 after buying an additional 1,800 shares during the last quarter. Narwhal Capital Management raised its position in shares of Cabot Microelectronics Corporation by 15.1% in the first quarter. Narwhal Capital Management now owns 30,085 shares of the semiconductor company’s stock worth $2,305,000 after buying an additional 3,940 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cabot Microelectronics Corporation during the first quarter worth approximately $9,999,000. Profund Advisors LLC raised its position in shares of Cabot Microelectronics Corporation by 1.6% in the first quarter. Profund Advisors LLC now owns 4,473 shares of the semiconductor company’s stock worth $343,000 after buying an additional 69 shares during the last quarter. Finally, Fisher Asset Management LLC purchased a new position in shares of Cabot Microelectronics Corporation during the first quarter worth approximately $3,122,000. 94.40% of the stock is owned by institutional investors.
Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) opened at 69.84 on Friday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 21.78 and a beta of 1.48. The stock has a 50 day moving average price of $75.12 and a 200 day moving average price of $73.56. Cabot Microelectronics Corporation has a 1-year low of $47.31 and a 1-year high of $81.85.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by $0.03. The company had revenue of $128 million for the quarter, compared to analyst estimates of $122.17 million. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that Cabot Microelectronics Corporation will post $3.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, June 21st. Cabot Microelectronics Corporation’s dividend payout ratio is currently 25.08%.
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A number of equities analysts recently commented on the company. BidaskClub raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Needham & Company LLC raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Tuesday, June 27th.
In other news, VP Daniel D. Woodland sold 432 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $74.90, for a total transaction of $32,356.80. Following the transaction, the vice president now directly owns 17,588 shares in the company, valued at approximately $1,317,341.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara A. Klein sold 12,502 shares of the business’s stock in a transaction that occurred on 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 owns 34,561 shares in the company, valued at $2,477,678.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,740 shares of company stock worth $6,417,154. Insiders own 5.50% of the company’s stock.
Cabot Microelectronics Corporation 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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