US Bancorp DE lifted its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,392 shares of the semiconductor company’s stock after purchasing an additional 906 shares during the quarter. US Bancorp DE’s holdings in Cabot Microelectronics were worth $1,388,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in Cabot Microelectronics by 13.5% during the fourth quarter. BlackRock Inc. now owns 4,170,901 shares of the semiconductor company’s stock valued at $397,697,000 after acquiring an additional 496,619 shares in the last quarter. Ceredex Value Advisors LLC raised its position in Cabot Microelectronics by 8.1% during the fourth quarter. Ceredex Value Advisors LLC now owns 992,370 shares of the semiconductor company’s stock valued at $95,019,000 after acquiring an additional 74,212 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cabot Microelectronics by 12.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 760,383 shares of the semiconductor company’s stock valued at $72,502,000 after acquiring an additional 81,642 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Cabot Microelectronics by 4.7% in the first quarter. Eagle Asset Management Inc. now owns 559,505 shares of the semiconductor company’s stock valued at $62,642,000 after purchasing an additional 24,982 shares during the period. Finally, Norges Bank acquired a new stake in Cabot Microelectronics in the fourth quarter valued at approximately $52,751,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.
In related news, Director Barbara A. Klein sold 3,000 shares of Cabot Microelectronics stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $108.28, for a total transaction of $324,840.00. Following the transaction, the director now owns 26,104 shares in the company, valued at $2,826,541.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.20% of the company’s stock.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Wednesday, May 8th. The semiconductor company reported $1.55 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.06). Cabot Microelectronics had a return on equity of 20.79% and a net margin of 15.61%. The company had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $273.30 million. Research analysts expect that Cabot Microelectronics Co. will post 6.78 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Investors of record on Tuesday, June 25th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, June 24th. This represents a $1.68 dividend on an annualized basis and a yield of 1.53%. Cabot Microelectronics’s payout ratio is 32.18%.
CCMP has been the topic of several research analyst reports. BidaskClub raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Zacks Investment Research lowered Cabot Microelectronics from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Cabot Microelectronics has an average rating of “Hold” and an average price target of $124.33.
Cabot Microelectronics Company Profile
Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.
See Also: Cost of Goods Sold (COGS)
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