Earnest Partners LLC lowered its position in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,235,543 shares of the semiconductor company’s stock after selling 53,091 shares during the quarter. Cabot Microelectronics makes up about 1.1% of Earnest Partners LLC’s investment portfolio, making the stock its 22nd largest position. Earnest Partners LLC owned approximately 4.82% of Cabot Microelectronics worth $116,240,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CCMP. Neuberger Berman Group LLC raised its position in shares of Cabot Microelectronics by 97.2% during the third quarter. Neuberger Berman Group LLC now owns 986,513 shares of the semiconductor company’s stock worth $78,852,000 after acquiring an additional 486,275 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Cabot Microelectronics by 28.6% during the fourth quarter. Renaissance Technologies LLC now owns 988,917 shares of the semiconductor company’s stock worth $93,037,000 after acquiring an additional 219,708 shares during the last quarter. Standard Life Aberdeen plc bought a new stake in shares of Cabot Microelectronics during the fourth quarter worth $11,492,000. Royce & Associates LP raised its position in shares of Cabot Microelectronics by 17.0% during the third quarter. Royce & Associates LP now owns 724,192 shares of the semiconductor company’s stock worth $57,885,000 after acquiring an additional 105,067 shares during the last quarter. Finally, Bogle Investment Management L P DE bought a new stake in shares of Cabot Microelectronics during the fourth quarter worth $8,308,000. Institutional investors own 95.12% of the company’s stock.
In other Cabot Microelectronics news, insider Thomas S. Roman sold 6,500 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $108.16, for a total value of $703,040.00. Following the completion of the transaction, the insider now directly owns 9,915 shares of the company’s stock, valued at $1,072,406.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Bernstein H. Carol Eckstein sold 905 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $91.94, for a total value of $83,205.70. Following the completion of the transaction, the vice president now directly owns 54,150 shares of the company’s stock, valued at $4,978,551. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,830 shares of company stock valued at $6,174,907. 3.30% of the stock is owned by insiders.
Cabot Microelectronics (NASDAQ:CCMP) last announced its quarterly earnings data on Thursday, January 25th. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.17. Cabot Microelectronics had a return on equity of 16.99% and a net margin of 11.74%. The business had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $137.90 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. analysts anticipate that Cabot Microelectronics Co. will post 4.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 23rd will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, March 22nd. This is a boost from Cabot Microelectronics’s previous quarterly dividend of $0.20. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.40%. Cabot Microelectronics’s payout ratio is 33.47%.
CCMP has been the subject of a number of recent research reports. Zacks Investment Research downgraded Cabot Microelectronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 1st. BidaskClub upgraded Cabot Microelectronics from a “hold” rating to a “buy” rating in a research report on Friday, January 5th. Loop Capital boosted their target price on Cabot Microelectronics from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Seaport Global Securities reaffirmed a “buy” rating and set a $112.00 price objective on shares of Cabot Microelectronics in a research note on Monday, January 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 price objective (up from $110.00) on shares of Cabot Microelectronics in a research note on Friday, January 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Cabot Microelectronics currently has an average rating of “Buy” and a consensus price target of $110.40.
ILLEGAL ACTIVITY WARNING: This news story was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of United States and international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/03/12/earnest-partners-llc-sells-53091-shares-of-cabot-microelectronics-co-ccmp.html.
Cabot Microelectronics Company Profile
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.
Want to see what other hedge funds are holding CCMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Microelectronics Co. (NASDAQ:CCMP).
Receive News & Ratings for Cabot Microelectronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Microelectronics and related companies with MarketBeat.com's FREE daily email newsletter.