Meeder Asset Management Inc. cut its position in shares of Cambrex Corp. (NYSE:CBM) by 34.5% during the second quarter, Holdings Channel reports. The institutional investor owned 5,750 shares of the company’s stock after selling 3,025 shares during the period. Meeder Asset Management Inc.’s holdings in Cambrex Corp. were worth $298,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of CBM. BlackRock Group LTD raised its position in shares of Cambrex Corp. by 5.0% in the first quarter. BlackRock Group LTD now owns 45,156 shares of the company’s stock worth $1,987,000 after buying an additional 2,131 shares in the last quarter. Royce & Associates LP raised its position in shares of Cambrex Corp. by 0.9% in the first quarter. Royce & Associates LP now owns 203,298 shares of the company’s stock worth $8,945,000 after buying an additional 1,798 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Cambrex Corp. by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 812,239 shares of the company’s stock worth $35,739,000 after buying an additional 2,588 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of Cambrex Corp. by 3.9% in the first quarter. Teachers Advisors Inc. now owns 331,966 shares of the company’s stock worth $14,607,000 after buying an additional 12,561 shares in the last quarter. Finally, Ngam Advisors L.P. bought a new position in shares of Cambrex Corp. during the first quarter worth $965,000. 99.46% of the stock is currently owned by hedge funds and other institutional investors.
Cambrex Corp. (NYSE:CBM) traded up 0.65% on Friday, reaching $46.60. 397,104 shares of the company’s stock were exchanged. Cambrex Corp. has a 12-month low of $29.50 and a 12-month high of $59.41. The company has a market cap of $1.50 billion, a P/E ratio of 23.56 and a beta of 1.45. The firm has a 50 day moving average of $45.40 and a 200-day moving average of $47.54.
Cambrex Corp. (NYSE:CBM) last announced its earnings results on Thursday, July 28th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.09. Cambrex Corp. had a net margin of 13.97% and a return on equity of 24.86%. The business earned $118.22 million during the quarter, compared to the consensus estimate of $114.85 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts expect that Cambrex Corp. will post $2.56 EPS for the current fiscal year.
Separately, Zacks Investment Research lowered shares of Cambrex Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th.
In other news, Director William B. Korb sold 3,420 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $55.00, for a total transaction of $188,100.00. Following the completion of the sale, the director now owns 23,982 shares in the company, valued at $1,319,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.63% of the company’s stock.
Cambrex Corp. Company Profile
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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