Principal Financial Group Inc. Has $18.48 Million Holdings in Cambrex Corporation (CBM)
Principal Financial Group Inc. trimmed its position in shares of Cambrex Corporation (NYSE:CBM) by 29.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309,213 shares of the biotechnology company’s stock after selling 127,600 shares during the quarter. Principal Financial Group Inc. owned 0.95% of Cambrex Corporation worth $18,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Cambrex Corporation by 9.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,760 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 150 shares during the last quarter. Creative Planning boosted its holdings in Cambrex Corporation by 162.6% during the 2nd quarter. Creative Planning now owns 1,765 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 1,093 shares during the last quarter. Flinton Capital Management LLC boosted its holdings in Cambrex Corporation by 3.8% during the 1st quarter. Flinton Capital Management LLC now owns 1,870 shares of the biotechnology company’s stock worth $103,000 after acquiring an additional 68 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Cambrex Corporation during the 1st quarter worth $109,000. Finally, Dubuque Bank & Trust Co. boosted its holdings in Cambrex Corporation by 3.3% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 2,697 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 87 shares during the last quarter. 98.28% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Steven M. Klosk sold 12,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $61.39, for a total transaction of $736,680.00. Following the sale, the chief executive officer now directly owns 95,328 shares of the company’s stock, valued at $5,852,185.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 36,000 shares of company stock worth $2,070,960 over the last ninety days. 2.48% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on CBM shares. BidaskClub downgraded shares of Cambrex Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. ValuEngine cut Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.00.
Shares of Cambrex Corporation (CBM) opened at 52.65 on Friday. The stock’s 50 day moving average price is $53.69 and its 200-day moving average price is $55.15. The company has a market capitalization of $1.72 billion, a PE ratio of 19.18 and a beta of 2.25. Cambrex Corporation has a 1-year low of $38.30 and a 1-year high of $62.95.
Cambrex Corporation (NYSE:CBM) last released its quarterly earnings data on Friday, August 4th. The biotechnology company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Cambrex Corporation had a return on equity of 24.25% and a net margin of 17.70%. The company had revenue of $134.55 million for the quarter, compared to analysts’ expectations of $136.82 million. During the same period last year, the firm posted $0.68 earnings per share. Cambrex Corporation’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts predict that Cambrex Corporation will post $3.08 EPS for the current year.
Cambrex Corporation Profile
Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.
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