Pennsylvania Trust Co purchased a new stake in Cabot Microelectronics Co. (NASDAQ:CCMP) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 47,905 shares of the semiconductor company’s stock, valued at approximately $1,982,000. Pennsylvania Trust Co owned approximately 0.17% of Cabot Microelectronics as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CCMP. Enlightenment Research LLC bought a new position in Cabot Microelectronics during the fourth quarter worth about $29,000. Huntington National Bank bought a new position in Cabot Microelectronics during the fourth quarter worth about $30,000. Private Capital Group LLC lifted its holdings in Cabot Microelectronics by 1,627.3% during the fourth quarter. Private Capital Group LLC now owns 380 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 358 shares in the last quarter. IFP Advisors Inc lifted its holdings in Cabot Microelectronics by 250.0% during the fourth quarter. IFP Advisors Inc now owns 427 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 305 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in Cabot Microelectronics by 38.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 483 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 133 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Jeffrey Michael Dysard sold 3,133 shares of Cabot Microelectronics stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $104.88, for a total value of $328,589.04. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is currently owned by insiders.
Cabot Microelectronics (NASDAQ:CCMP) last released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.06). The firm had revenue of $265.39 million during the quarter, compared to analyst estimates of $273.30 million. Cabot Microelectronics had a net margin of 15.61% and a return on equity of 20.79%. Sell-side analysts anticipate that Cabot Microelectronics Co. will post 7.07 earnings per share for the current fiscal year.
The business 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 of this dividend was Wednesday, March 20th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.49%. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.40. Cabot Microelectronics’s payout ratio is currently 32.18%.
Several research firms have weighed in on CCMP. BidaskClub lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research upgraded Cabot Microelectronics from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.33.
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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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