Insider Selling: Cabot Microelectronics Co. (NASDAQ:CCMP) VP Sells $357,963.07 in Stock

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Cabot Microelectronics Co. (NASDAQ:CCMP) VP Daniel D. Woodland sold 3,137 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $114.11, for a total transaction of $357,963.07. Following the transaction, the vice president now owns 15,422 shares of the company’s stock, valued at approximately $1,759,804.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cabot Microelectronics stock opened at $118.26 on Friday. The firm has a 50-day moving average price of $114.41 and a 200-day moving average price of $111.62. The firm has a market capitalization of $3.47 billion, a PE ratio of 18.35 and a beta of 1.39. The company has a current ratio of 3.06, a quick ratio of 2.12 and a debt-to-equity ratio of 0.91. Cabot Microelectronics Co. has a 12-month low of $82.24 and a 12-month high of $129.94.

Cabot Microelectronics (NASDAQ:CCMP) last released its earnings results on Wednesday, August 7th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.01). The firm had revenue of $271.88 million during the quarter, compared to the consensus estimate of $266.80 million. Cabot Microelectronics had a return on equity of 21.77% and a net margin of 11.76%. As a group, sell-side analysts predict that Cabot Microelectronics Co. will post 6.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Tuesday, June 25th were issued a $0.42 dividend. The ex-dividend date was Monday, June 24th. This represents a $1.68 annualized dividend and a dividend yield of 1.42%. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 32.18%.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Wednesday. Goldman Sachs Group started coverage on shares of Cabot Microelectronics in a report on Monday, July 8th. They issued a “buy” rating and a $148.00 target price for the company. Seaport Global Securities restated a “buy” rating on shares of Cabot Microelectronics in a report on Wednesday, August 7th. CL King started coverage on shares of Cabot Microelectronics in a report on Monday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. Finally, BidaskClub lowered shares of Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Cabot Microelectronics presently has a consensus rating of “Buy” and a consensus target price of $129.20.

Several institutional investors have recently added to or reduced their stakes in CCMP. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Cabot Microelectronics in the 1st quarter worth about $63,551,000. Victory Capital Management Inc. increased its stake in Cabot Microelectronics by 151.1% in the 2nd quarter. Victory Capital Management Inc. now owns 477,276 shares of the semiconductor company’s stock worth $52,539,000 after buying an additional 287,168 shares during the period. Nuveen Asset Management LLC purchased a new position in Cabot Microelectronics in the 2nd quarter worth about $25,503,000. Westfield Capital Management Co. LP purchased a new position in Cabot Microelectronics in the 1st quarter worth about $22,056,000. Finally, Carlson Capital L P increased its stake in Cabot Microelectronics by 114.8% in the 2nd quarter. Carlson Capital L P now owns 273,025 shares of the semiconductor company’s stock worth $30,055,000 after buying an additional 145,925 shares during the period. Hedge funds and other institutional investors own 98.60% of the company’s stock.

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.

See Also: Book Value Per Share – BVPS

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