M&T Bank Corp increased its holdings in Cabot Microelectronics Corporation (NASDAQ:CCMP) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,802 shares of the semiconductor company’s stock after purchasing an additional 251 shares during the period. M&T Bank Corp’s holdings in Cabot Microelectronics Corporation were worth $429,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Alps Advisors Inc. raised its position in Cabot Microelectronics Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,872 shares of the semiconductor company’s stock worth $507,000 after purchasing an additional 18 shares in the last quarter. BB&T Securities LLC raised its position in Cabot Microelectronics Corporation by 0.6% in the second quarter. BB&T Securities LLC now owns 8,468 shares of the semiconductor company’s stock worth $625,000 after purchasing an additional 48 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in Cabot Microelectronics Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,900 shares of the semiconductor company’s stock worth $529,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Cabot Microelectronics Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the semiconductor company’s stock worth $760,000 after purchasing an additional 100 shares in the last quarter. Finally, Arizona State Retirement System raised its position in Cabot Microelectronics Corporation by 0.8% in the second quarter. Arizona State Retirement System now owns 13,157 shares of the semiconductor company’s stock worth $971,000 after purchasing an additional 100 shares in the last quarter. 93.85% of the stock is owned by hedge funds and other institutional investors.

Shares of Cabot Microelectronics Corporation (NASDAQ CCMP) opened at 80.82 on Monday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 25.21 and a beta of 1.47. Cabot Microelectronics Corporation has a 12-month low of $50.66 and a 12-month high of $81.85. The stock’s 50 day moving average is $73.91 and its 200 day moving average is $74.82.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.81 earnings per share 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 firm had revenue of $128.00 million for the quarter, compared to the consensus estimate of $122.17 million. During the same period last year, the company posted $0.79 EPS. The business’s revenue was up 18.4% on a year-over-year basis. Equities analysts expect that Cabot Microelectronics Corporation will post $3.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Monday, September 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, September 22nd. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 25.08%.

CCMP has been the subject of several recent research reports. BidaskClub lowered shares of Cabot Microelectronics Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Needham & Company LLC raised shares of Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday, June 27th. Seaport Global Securities initiated coverage on shares of Cabot Microelectronics Corporation in a research report on Wednesday, September 6th. They issued a “buy” rating for the company. Zacks Investment Research raised shares of Cabot Microelectronics Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, Loop Capital initiated coverage on shares of Cabot Microelectronics Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $94.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $84.67.

In other news, Director Barbara A. Klein sold 12,502 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.69, for a total transaction of $896,268.38. Following the completion of the sale, the director now owns 34,561 shares of the company’s stock, valued at approximately $2,477,678.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William S. Johnson sold 11,806 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total transaction of $870,928.62. Following the sale, the insider now directly owns 94,911 shares of the company’s stock, valued at approximately $7,001,584.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,740 shares of company stock valued at $1,799,554. 5.50% of the stock is currently owned by insiders.

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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.

Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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