Bank of Montreal Can raised its stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 3,960.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,391 shares of the semiconductor company’s stock after buying an additional 94,017 shares during the period. Bank of Montreal Can owned 0.39% of Cabot Microelectronics Corporation worth $7,117,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Guggenheim Capital LLC acquired a new position in Cabot Microelectronics Corporation during the fourth quarter valued at $619,000. Norges Bank acquired a new position in Cabot Microelectronics Corporation during the fourth quarter valued at $24,657,000. Teachers Advisors LLC raised its position in Cabot Microelectronics Corporation by 0.6% in the fourth quarter. Teachers Advisors LLC now owns 203,602 shares of the semiconductor company’s stock valued at $12,862,000 after buying an additional 1,222 shares during the period. Louisiana State Employees Retirement System raised its position in Cabot Microelectronics Corporation by 5.2% in the first quarter. Louisiana State Employees Retirement System now owns 10,200 shares of the semiconductor company’s stock valued at $781,000 after buying an additional 500 shares during the period. Finally, Hartford Investment Management Co. acquired a new position in Cabot Microelectronics Corporation during the first quarter valued at $213,000. Institutional investors own 95.11% of the company’s stock.
Cabot Microelectronics Corporation (NASDAQ CCMP) opened at 73.12 on Friday. The stock’s 50 day moving average is $76.09 and its 200 day moving average is $73.09. Cabot Microelectronics Corporation has a 52-week low of $47.31 and a 52-week high of $81.85. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 22.86 and a beta of 1.48.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The firm had revenue of $128 million for the quarter, compared to analyst estimates of $122.17 million. During the same period last year, the company earned $0.79 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts forecast that Cabot Microelectronics Corporation will post $3.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Wednesday, June 21st. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is currently 25.08%.
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Several equities analysts have recently weighed in on CCMP shares. BidaskClub lowered shares of Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Needham & Company LLC upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, June 27th.
In other news, Director William P. Noglows sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $76.96, for a total transaction of $4,617,600.00. Following the sale, the director now owns 28,652 shares in the company, valued at approximately $2,205,057.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William S. Johnson sold 18,930 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $78.08, for a total value of $1,478,054.40. Following the sale, the insider now owns 102,035 shares in the company, valued at approximately $7,966,892.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,726 shares of company stock valued at $8,595,126. Insiders own 5.50% of the company’s stock.
About Cabot Microelectronics Corporation
Cabot Microelectronics Corporation supplies polishing slurries and pads used in the manufacture of integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is engaged in the development, manufacture and sale of CMP consumables.
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