Cabot Microelectronics Corporation (CCMP) Position Cut by Wellington Management Group LLP
Wellington Management Group LLP lowered its stake in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 36.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,888 shares of the semiconductor company’s stock after selling 40,012 shares during the period. Wellington Management Group LLP owned about 0.28% of Cabot Microelectronics Corporation worth $5,277,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Cabot Microelectronics Corporation during the first quarter valued at approximately $146,000. Bank of Montreal Can increased its stake 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 valued at $182,000 after buying an additional 919 shares during the last quarter. State of Alaska Department of Revenue increased its stake 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 valued at $212,000 after buying an additional 160 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Cabot Microelectronics Corporation during the first quarter valued at approximately $213,000. Finally, 361 Capital LLC bought a new stake in Cabot Microelectronics Corporation during the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
Cabot Microelectronics Corporation (CCMP) traded down 2.39% on Thursday, reaching $71.58. 130,424 shares of the company were exchanged. 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 $1.81 billion, a price-to-earnings ratio of 22.30 and a beta of 1.48. The stock has a 50-day moving average price of $75.91 and a 200 day moving average price of $73.38.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last released its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.84 by $0.03. The firm had revenue of $128 million for the quarter, compared to the consensus estimate of $122.17 million. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 EPS. Analysts forecast that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were given 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 dividend yield of 1.12%. Cabot Microelectronics Corporation’s dividend payout ratio is currently 25.08%.
Several research firms have recently commented on CCMP. BidaskClub upgraded shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. 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 note on Tuesday, June 27th.
In other news, insider William S. Johnson sold 18,930 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 102,035 shares in the company, valued at $7,966,892.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel D. Woodland sold 432 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $74.90, for a total transaction of $32,356.80. Following the transaction, the vice president now owns 17,588 shares of the company’s stock, valued at approximately $1,317,341.20. The disclosure for this sale can be found here. Insiders have sold 87,907 shares of company stock valued at $6,794,607 in the last 90 days. Insiders own 5.50% of the company’s stock.
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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