Public Sector Pension investment Board decreased its stake in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 25.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,891 shares of the semiconductor company’s stock after selling 4,400 shares during the quarter. Public Sector Pension investment Board owned approximately 0.05% of Cabot Microelectronics Corporation worth $952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC grew its holdings in Cabot Microelectronics Corporation by 88.8% during the second quarter. Riverhead Capital Management LLC now owns 1,699 shares of the semiconductor company’s stock worth $125,000 after acquiring an additional 799 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Cabot Microelectronics Corporation during the first quarter valued at approximately $146,000. Bank of Montreal Can raised its position in Cabot Microelectronics Corporation by 63.2% during the first quarter. Bank of Montreal Can now owns 2,374 shares of the semiconductor company’s stock valued at $182,000 after acquiring an additional 919 shares in the last quarter. Victory Capital Management Inc. raised its position in Cabot Microelectronics Corporation by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,764 shares of the semiconductor company’s stock valued at $204,000 after acquiring an additional 415 shares in the last quarter. Finally, Amalgamated Bank raised its position in Cabot Microelectronics Corporation by 12.1% during the second quarter. Amalgamated Bank now owns 3,573 shares of the semiconductor company’s stock valued at $264,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 93.85% of the company’s stock.

Cabot Microelectronics Corporation (CCMP) opened at 80.79 on Tuesday. The firm has a market cap of $2.04 billion, a P/E ratio of 25.20 and a beta of 1.47. The firm has a 50 day moving average of $72.63 and a 200-day moving average of $74.63. Cabot Microelectronics Corporation has a 12 month low of $50.66 and a 12 month 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 for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $128.00 million for the quarter, compared to analyst estimates of $122.17 million. During the same period in the prior year, the business earned $0.79 earnings per share. Cabot Microelectronics Corporation’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities research analysts forecast that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, September 22nd. Cabot Microelectronics Corporation’s payout ratio is 25.08%.

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In other Cabot Microelectronics Corporation news, insider William S. Johnson sold 11,806 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total transaction of $870,928.62. Following the transaction, the insider now owns 94,911 shares in the company, valued at approximately $7,001,584.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $32,356.80. Following the transaction, the vice president now owns 17,588 shares in the company, valued at approximately $1,317,341.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,740 shares of company stock worth $1,799,554. Insiders own 5.50% of the company’s stock.

A number of research analysts have issued reports on the company. BidaskClub downgraded Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Needham & Company LLC upgraded Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, June 27th. Seaport Global Securities initiated coverage on shares of Cabot Microelectronics Corporation in a research note on Wednesday, September 6th. They set a “buy” rating on the stock. Zacks Investment Research raised shares of Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Finally, Loop Capital assumed coverage on shares of Cabot Microelectronics Corporation in a report on Thursday, September 28th. They set a “buy” rating and a $94.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $84.67.

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.

Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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