Alpine Associates Management Inc. Acquires 74,400 Shares of CMC Materials, Inc. (NASDAQ:CCMP)

Alpine Associates Management Inc. lifted its position in shares of CMC Materials, Inc. (NASDAQ:CCMPGet Rating) by 24.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 383,800 shares of the semiconductor company’s stock after acquiring an additional 74,400 shares during the period. CMC Materials makes up about 3.0% of Alpine Associates Management Inc.’s portfolio, making the stock its 9th largest holding. Alpine Associates Management Inc. owned approximately 1.34% of CMC Materials worth $71,157,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CCMP. Confluence Wealth Services Inc. bought a new position in CMC Materials in the 4th quarter valued at approximately $37,000. Wolverine Asset Management LLC bought a new position in shares of CMC Materials during the fourth quarter valued at $38,000. First Horizon Advisors Inc. raised its stake in shares of CMC Materials by 72.0% during the fourth quarter. First Horizon Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $41,000 after acquiring an additional 90 shares during the last quarter. Signaturefd LLC raised its stake in shares of CMC Materials by 32.8% during the fourth quarter. Signaturefd LLC now owns 320 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 79 shares during the last quarter. Finally, Sageworth Trust Co of South Dakota bought a new position in shares of CMC Materials during the fourth quarter valued at $62,000. 93.72% of the stock is owned by institutional investors.

CCMP traded down $1.81 during midday trading on Friday, hitting $172.68. The company had a trading volume of 712,987 shares, compared to its average volume of 398,609. CMC Materials, Inc. has a 52 week low of $119.19 and a 52 week high of $197.00. The company has a quick ratio of 2.22, a current ratio of 3.15 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 45.20 and a beta of 1.14. The stock’s 50 day moving average price is $176.54 and its 200 day moving average price is $181.59.

CMC Materials (NASDAQ:CCMPGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The semiconductor company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $324.13 million during the quarter, compared to the consensus estimate of $312.90 million. CMC Materials had a net margin of 8.85% and a return on equity of 23.55%. During the same period in the previous year, the firm posted $1.71 earnings per share. Research analysts predict that CMC Materials, Inc. will post 7.55 EPS for the current year.

Several research firms have recently issued reports on CCMP. CL King downgraded shares of CMC Materials from a “buy” rating to a “neutral” rating in a research note on Thursday, April 7th. StockNews.com raised shares of CMC Materials from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $197.25.

In other news, Director Susan M. Whitney sold 7,500 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $177.99, for a total transaction of $1,334,925.00. Following the completion of the sale, the director now directly owns 12,047 shares of the company’s stock, valued at $2,144,245.53. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

CMC Materials Profile (Get Rating)

CMC Materials, Inc, together with its subsidiaries, provides consumable materials to semiconductor manufacturers, and pipeline and adjacent industry customers in North America, Asia, Europe, the Middle East, Africa, and South America. The company operates in two segments, Electronic Materials and Performance Materials.

Further Reading

Institutional Ownership by Quarter for CMC Materials (NASDAQ:CCMP)

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