Cabot Microelectronics Corporation (CCMP) Position Increased by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC increased its position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 58.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,312 shares of the semiconductor company’s stock after buying an additional 38,959 shares during the period. TIAA CREF Investment Management LLC owned 0.42% of Cabot Microelectronics Corporation worth $8,068,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of CCMP. Mason Street Advisors LLC increased its stake in Cabot Microelectronics Corporation by 10.6% in the first quarter. Mason Street Advisors LLC now owns 5,853 shares of the semiconductor company’s stock worth $448,000 after buying an additional 559 shares during the last quarter. State Street Corp increased its stake in shares of Cabot Microelectronics Corporation by 11.2% in the fourth quarter. State Street Corp now owns 543,346 shares of the semiconductor company’s stock worth $34,323,000 after buying an additional 54,797 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Cabot Microelectronics Corporation during the first quarter worth about $4,444,000. Guggenheim Capital LLC purchased a new stake in shares of Cabot Microelectronics Corporation during the fourth quarter worth about $619,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Cabot Microelectronics Corporation during the first quarter worth about $9,999,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) traded down 0.10% during trading on Friday, reaching $71.51. 175,657 shares of the company’s stock traded hands. The stock has a 50-day moving average of $75.91 and a 200-day moving average of $73.38. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 22.31 and a beta of 1.48. Cabot Microelectronics Corporation has a 1-year low of $47.31 and a 1-year high of $81.85.
Cabot Microelectronics Corporation (NASDAQ:CCMP) last announced its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $128 million for the quarter, compared to the consensus estimate of $122.17 million. During the same period last year, the firm posted $0.79 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. On average, equities analysts predict that Cabot Microelectronics Corporation will post $3.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors 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 1.12%. The ex-dividend date of this dividend was Wednesday, June 21st. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is currently 25.08%.
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A number of analysts have recently issued reports on CCMP shares. BidaskClub downgraded shares of Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Needham & Company LLC raised 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 Cabot Microelectronics Corporation news, insider William S. Johnson sold 11,806 shares of Cabot Microelectronics Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $73.77, for a total transaction of $870,928.62. Following the sale, the insider now owns 94,911 shares in the company, valued at $7,001,584.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara A. Klein sold 12,502 shares of Cabot Microelectronics Corporation stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.69, for a total transaction of $896,268.38. Following the sale, the director now owns 34,561 shares in the company, valued at approximately $2,477,678.09. The disclosure for this sale can be found here. Insiders have sold 93,285 shares of company stock worth $7,083,749 in the last ninety days. 5.50% of the stock is currently owned by insiders.
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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