Narwhal Capital Management Decreases Position in Cabot Microelectronics Co. (CCMP)

Narwhal Capital Management cut its stake in Cabot Microelectronics Co. (NASDAQ:CCMP) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,264 shares of the semiconductor company’s stock after selling 356 shares during the quarter. Narwhal Capital Management owned about 0.15% of Cabot Microelectronics worth $4,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Investments LP lifted its position in shares of Cabot Microelectronics by 0.3% during the fourth quarter. Two Sigma Investments LP now owns 35,263 shares of the semiconductor company’s stock worth $3,362,000 after purchasing an additional 104 shares during the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Cabot Microelectronics by 38.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 483 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 133 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cabot Microelectronics by 0.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 16,870 shares of the semiconductor company’s stock valued at $1,609,000 after acquiring an additional 140 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Cabot Microelectronics by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 9,757 shares of the semiconductor company’s stock valued at $1,092,000 after acquiring an additional 165 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of Cabot Microelectronics by 13.7% in the fourth quarter. LS Investment Advisors LLC now owns 1,728 shares of the semiconductor company’s stock valued at $165,000 after acquiring an additional 208 shares in the last quarter. Institutional investors own 98.09% of the company’s stock.

In related news, VP Jeffrey Michael Dysard sold 3,133 shares of the company’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $104.88, for a total value of $328,589.04. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.20% of the stock is owned by corporate insiders.

Several equities analysts have issued reports on CCMP shares. Zacks Investment Research lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. BidaskClub upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $124.33.

Shares of CCMP stock opened at $125.95 on Friday. Cabot Microelectronics Co. has a fifty-two week low of $82.24 and a fifty-two week high of $129.94. The stock has a market cap of $3.65 billion, a PE ratio of 21.20 and a beta of 1.20. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.34 and a current ratio of 3.18.

Cabot Microelectronics (NASDAQ:CCMP) last issued its quarterly earnings results on Wednesday, February 6th. The semiconductor company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.47. The business had revenue of $221.80 million for the quarter, compared to analyst estimates of $217.90 million. Cabot Microelectronics had a return on equity of 21.57% and a net margin of 18.83%. The company’s revenue was up 58.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.19 earnings per share. Sell-side analysts predict that Cabot Microelectronics Co. will post 7.07 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 21st were given a $0.42 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $1.68 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Cabot Microelectronics’s previous quarterly dividend of $0.40. Cabot Microelectronics’s dividend payout ratio is currently 32.18%.

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About Cabot Microelectronics

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

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