Clark Capital Management Group Inc. purchased a new stake in Cabot Microelectronics Co. (NASDAQ:CCMP) during the first quarter, HoldingsChannel reports. The firm purchased 22,300 shares of the semiconductor company’s stock, valued at approximately $2,497,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its stake in Cabot Microelectronics by 13.5% in the 4th quarter. BlackRock Inc. now owns 4,170,901 shares of the semiconductor company’s stock valued at $397,697,000 after buying an additional 496,619 shares during the last quarter. Ceredex Value Advisors LLC grew its stake in Cabot Microelectronics by 8.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 992,370 shares of the semiconductor company’s stock valued at $95,019,000 after buying an additional 74,212 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Cabot Microelectronics by 12.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 760,383 shares of the semiconductor company’s stock valued at $72,502,000 after buying an additional 81,642 shares during the last quarter. Eagle Asset Management Inc. grew its stake in Cabot Microelectronics by 4.7% in the 1st quarter. Eagle Asset Management Inc. now owns 559,505 shares of the semiconductor company’s stock valued at $62,642,000 after buying an additional 24,982 shares during the last quarter. Finally, Norges Bank acquired a new position in Cabot Microelectronics in the 4th quarter valued at about $52,751,000. Institutional investors and hedge funds own 98.62% of the company’s stock.
In other Cabot Microelectronics news, VP Jeffrey Michael Dysard sold 3,133 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $104.88, for a total transaction of $328,589.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Cabot Microelectronics (NASDAQ:CCMP) last announced its earnings results on Wednesday, May 8th. The semiconductor company reported $1.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a return on equity of 20.79% and a net margin of 15.61%. The business had revenue of $265.39 million for the quarter, compared to analyst estimates of $273.30 million. Equities analysts expect that Cabot Microelectronics Co. will post 6.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 21st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, March 20th. This is a positive change from Cabot Microelectronics’s previous quarterly dividend of $0.40. Cabot Microelectronics’s dividend payout ratio is presently 32.18%.
CCMP has been the topic of a number of analyst reports. BidaskClub lowered shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Monday. Zacks Investment Research lowered shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $124.33.
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Cabot Microelectronics 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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