UBS Asset Management Americas Inc. raised its stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 159.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,390 shares of the semiconductor company’s stock after buying an additional 7,000 shares during the period. UBS Asset Management Americas Inc.’s holdings in Cabot Microelectronics Corporation were worth $873,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Bank of Montreal Can raised its position in Cabot Microelectronics Corporation by 63.2% in the first quarter. Bank of Montreal Can now owns 2,374 shares of the semiconductor company’s stock worth $182,000 after buying an additional 919 shares during the last quarter. State of Alaska Department of Revenue raised its position in Cabot Microelectronics Corporation by 6.1% in the first quarter. State of Alaska Department of Revenue now owns 2,770 shares of the semiconductor company’s stock worth $212,000 after buying an additional 160 shares during the last quarter. 361 Capital LLC purchased a new position in Cabot Microelectronics Corporation during the first quarter worth $213,000. Hartford Investment Management Co. purchased a new position in Cabot Microelectronics Corporation during the first quarter worth $213,000. Finally, Advisors Preferred LLC purchased a new position in Cabot Microelectronics Corporation during the first quarter worth $269,000. Institutional investors own 95.11% of the company’s stock.
Cabot Microelectronics Corporation (NASDAQ:CCMP) traded down 0.68% during midday trading on Friday, reaching $73.12. 358,714 shares of the company were exchanged. The firm’s 50 day moving average price is $76.09 and its 200-day moving average price is $73.09. Cabot Microelectronics Corporation has a 52 week low of $47.31 and a 52 week high of $81.85. The stock has a market capitalization of $1.85 billion, a P/E ratio of 22.78 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. Cabot Microelectronics Corporation had a net margin of 16.41% and a return on equity of 16.08%. The company had revenue of $128 million during the quarter, compared to analyst estimates of $122.17 million. During the same period in the prior year, the business posted $0.79 EPS. Cabot Microelectronics Corporation’s revenue was up 18.4% compared to the same quarter last year. Equities analysts forecast that Cabot Microelectronics Corporation will post $3.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, June 23rd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, June 21st. This represents a $0.80 annualized dividend and a yield of 1.09%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 25.08%.
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Several equities analysts have recently commented on CCMP shares. Needham & Company LLC raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, June 27th. BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 17th.
In other Cabot Microelectronics Corporation news, insider William S. Johnson sold 18,930 shares of Cabot Microelectronics Corporation stock in a transaction on Friday, May 5th. The shares were sold at an average price of $78.08, for a total transaction of $1,478,054.40. Following the sale, the insider now owns 102,035 shares of the company’s stock, valued at approximately $7,966,892.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David H. Li sold 23,251 shares of Cabot Microelectronics Corporation stock in a transaction on Monday, May 1st. The stock was sold at an average price of $78.83, for a total value of $1,832,876.33. Following the transaction, the insider now owns 72,646 shares in the company, valued at approximately $5,726,684.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,726 shares of company stock worth $8,595,126. 5.50% of the stock is currently owned by corporate insiders.
Cabot Microelectronics Corporation Company Profile
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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