Cabot Microelectronics Co. (NASDAQ:CCMP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $115.46 and last traded at $115.41, with a volume of 178369 shares. The stock had previously closed at $114.33.
A number of equities research analysts have weighed in on CCMP shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price (up previously from $110.00) on shares of Cabot Microelectronics in a report on Friday, January 26th. BidaskClub downgraded Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Thursday, February 1st. Seaport Global Securities reaffirmed a “buy” rating and issued a $112.00 target price on shares of Cabot Microelectronics in a report on Monday, January 29th. Finally, Loop Capital raised their target price on Cabot Microelectronics from $108.00 to $112.00 and gave the company a “buy” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Cabot Microelectronics currently has an average rating of “Buy” and an average target price of $110.40.
The company has a market capitalization of $2,894.59, a price-to-earnings ratio of 29.51 and a beta of 1.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.71 and a current ratio of 6.53.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 23rd will be issued a dividend of $0.40 per share. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, March 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. Cabot Microelectronics’s dividend payout ratio (DPR) is 33.47%.
In related news, Director Richard Hill sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $113.21, for a total transaction of $113,210.00. Following the sale, the director now owns 9,011 shares of the company’s stock, valued at approximately $1,020,135.31. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Bernstein H. Carol Eckstein sold 19,425 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.51, for a total value of $1,971,831.75. Following the sale, the vice president now directly owns 57,487 shares in the company, valued at approximately $5,835,505.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,236 shares of company stock worth $7,247,782. 3.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its holdings in shares of Cabot Microelectronics by 93.4% during the 4th quarter. LS Investment Advisors LLC now owns 1,663 shares of the semiconductor company’s stock valued at $156,000 after acquiring an additional 803 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Cabot Microelectronics during the 4th quarter valued at $198,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of Cabot Microelectronics by 87.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,246 shares of the semiconductor company’s stock valued at $157,000 after acquiring an additional 1,048 shares in the last quarter. Shelton Capital Management acquired a new stake in shares of Cabot Microelectronics during the 4th quarter valued at $214,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Cabot Microelectronics during the 4th quarter valued at $236,000. 95.11% of the stock is currently owned by institutional investors.
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Cabot Microelectronics 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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