First Mercantile Trust Co. Sells 1,451 Shares of Universal Display Co. (NASDAQ:OLED)

First Mercantile Trust Co. lessened its stake in Universal Display Co. (NASDAQ:OLED) by 37.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,391 shares of the semiconductor company’s stock after selling 1,451 shares during the quarter. First Mercantile Trust Co.’s holdings in Universal Display were worth $401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its holdings in shares of Universal Display by 25.0% in the third quarter. California Public Employees Retirement System now owns 95,824 shares of the semiconductor company’s stock worth $16,089,000 after acquiring an additional 19,183 shares in the last quarter. Usca Ria LLC bought a new stake in shares of Universal Display in the third quarter worth about $67,000. Cabot Wealth Management Inc. bought a new stake in shares of Universal Display in the third quarter worth about $1,101,000. Zweig DiMenna Associates LLC bought a new stake in shares of Universal Display in the third quarter worth about $14,478,000. Finally, State of Tennessee Treasury Department increased its holdings in shares of Universal Display by 43.7% in the third quarter. State of Tennessee Treasury Department now owns 49,102 shares of the semiconductor company’s stock worth $8,244,000 after acquiring an additional 14,934 shares in the last quarter. Institutional investors and hedge funds own 69.08% of the company’s stock.

OLED stock opened at $199.88 on Friday. The stock has a market capitalization of $9.50 billion, a P/E ratio of 161.19, a P/E/G ratio of 2.16 and a beta of 1.52. The business has a 50-day moving average of $177.15 and a 200-day moving average of $183.97. Universal Display Co. has a fifty-two week low of $78.78 and a fifty-two week high of $230.32.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.21. The company had revenue of $97.50 million during the quarter, compared to analysts’ expectations of $85.88 million. Universal Display had a return on equity of 17.81% and a net margin of 35.10%. Universal Display’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Universal Display Co. will post 3.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.20%. Universal Display’s dividend payout ratio is currently 32.26%.

Several equities research analysts have issued reports on the company. Benchmark set a $175.00 price target on Universal Display and gave the stock a “buy” rating in a report on Tuesday, September 17th. BidaskClub downgraded Universal Display from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup increased their price target on Universal Display from $180.00 to $223.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “strong-buy” rating and set a $212.00 price target for the company in a report on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Universal Display in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $195.85.

In other news, insider Julia J. Brown sold 24,905 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $199.85, for a total transaction of $4,977,264.25. Following the completion of the transaction, the insider now directly owns 99,455 shares of the company’s stock, valued at $19,876,081.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Keith Hartley sold 185 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $159.57, for a total value of $29,520.45. Following the transaction, the director now directly owns 93,669 shares of the company’s stock, valued at $14,946,762.33. The disclosure for this sale can be found here. Insiders have sold 56,272 shares of company stock valued at $11,929,812 over the last ninety days. 3.70% of the stock is owned by insiders.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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