Metropolitan Life Insurance Co NY cut its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,708 shares of the semiconductor company’s stock after selling 139 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Cabot Microelectronics were worth $974,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bremer Bank National Association acquired a new stake in shares of Cabot Microelectronics during the 1st quarter worth about $32,000. Quadrant Capital Group LLC grew its holdings in Cabot Microelectronics by 121.2% during the 1st quarter. Quadrant Capital Group LLC now owns 427 shares of the semiconductor company’s stock worth $44,000 after acquiring an additional 234 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Cabot Microelectronics by 38.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 483 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 133 shares during the last quarter. Private Capital Group LLC grew its holdings in Cabot Microelectronics by 24.7% during the 1st quarter. Private Capital Group LLC now owns 474 shares of the semiconductor company’s stock worth $53,000 after acquiring an additional 94 shares during the last quarter. Finally, NumerixS Investment Technologies Inc grew its holdings in Cabot Microelectronics by 60.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 800 shares of the semiconductor company’s stock worth $75,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 99.01% of the company’s stock.
CCMP has been the topic of a number of recent analyst reports. CL King started coverage on shares of Cabot Microelectronics in a research report on Monday, July 8th. They issued a “buy” rating and a $125.00 price target on the stock. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Zacks Investment Research downgraded shares of General Finance from a “buy” rating to a “hold” rating in a report on Monday. Finally, Goldman Sachs Group restated a “hold” rating and set a $8.40 price objective on shares of Deutsche Bank in a report on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $129.20.
CCMP traded up $1.84 during trading on Thursday, hitting $112.16. 127,451 shares of the company traded hands, compared to its average volume of 258,373. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 21.49 and a beta of 1.41. The firm’s fifty day moving average price is $107.51. The company has a current ratio of 3.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.96. Cabot Microelectronics Co. has a one year low of $82.24 and a one year high of $129.94.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.06). Cabot Microelectronics had a return on equity of 20.79% and a net margin of 15.61%. The firm had revenue of $265.39 million during the quarter, compared to analysts’ expectations of $273.30 million. On average, research analysts anticipate that Cabot Microelectronics Co. will post 6.78 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 30th. Shareholders of record on Tuesday, June 25th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Monday, June 24th. Cabot Microelectronics’s payout ratio is currently 32.18%.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.
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