Russell Investments Group Ltd. decreased its stake in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 89.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,888 shares of the semiconductor company’s stock after selling 114,215 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Cabot Microelectronics Corporation worth $1,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Profund Advisors LLC boosted 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 period. Municipal Employees Retirement System of Michigan boosted its position in shares of Cabot Microelectronics Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,900 shares of the semiconductor company’s stock worth $529,000 after buying an additional 100 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Cabot Microelectronics Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the semiconductor company’s stock worth $760,000 after buying an additional 100 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Cabot Microelectronics Corporation by 0.7% in the first quarter. Parametric Portfolio Associates LLC now owns 66,888 shares of the semiconductor company’s stock worth $5,124,000 after buying an additional 449 shares during the period. Finally, Texas Permanent School Fund boosted its position in shares of Cabot Microelectronics Corporation by 2.6% in the first quarter. Texas Permanent School Fund now owns 18,122 shares of the semiconductor company’s stock worth $1,388,000 after buying an additional 452 shares during the period. 93.85% of the stock is owned by institutional investors.

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Shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) traded up 0.84% on Wednesday, reaching $73.32. The company had a trading volume of 60,873 shares. The firm has a market capitalization of $1.85 billion, a PE ratio of 22.87 and a beta of 1.46. Cabot Microelectronics Corporation has a 52-week low of $48.17 and a 52-week high of $81.85. The company has a 50-day moving average price of $71.61 and a 200-day moving average price of $74.02.

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 the Thomson Reuters’ consensus estimate of $0.84 by ($0.03). The business had revenue of $128.00 million during the quarter, compared to analyst estimates of $122.17 million. Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. Equities research analysts forecast that Cabot Microelectronics Corporation will post $3.36 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.10%. Cabot Microelectronics Corporation’s dividend payout ratio is currently 25.08%.

Several brokerages have recently weighed in on CCMP. Seaport Global Securities began coverage on Cabot Microelectronics Corporation in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. Zacks Investment Research raised Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub downgraded Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Finally, 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 report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Cabot Microelectronics Corporation has an average rating of “Hold” and an average price target of $80.00.

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 sale, the director now directly owns 34,561 shares of the company’s stock, valued at $2,477,678.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Daniel D. Woodland sold 432 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $74.90, for a total value of $32,356.80. Following the completion of the sale, the vice president now directly owns 17,588 shares in the company, valued at $1,317,341.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,740 shares of company stock worth $1,799,554. 5.50% of the stock is currently owned by company 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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Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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