Trade Report: The Mason Street Advisors LLC Acquires 4,625 Shares of Cabot Microelectronics Co. (CCMP)

The Mason Street Advisors LLC Acquires 4,625  Shares of Cabot Microelectronics Co. (CCMP)

Mason Street Advisors LLC bought a new stake in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) during the second quarter, Holdings Channel reports. The firm bought 4,625 shares of the company’s stock, valued at approximately $196,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Cabot Microelectronics by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,862,777 shares of the company’s stock valued at $78,870,000 after buying an additional 36,860 shares during the last quarter. BlackRock Fund Advisors increased its stake in Cabot Microelectronics by 0.8% in the second quarter. BlackRock Fund Advisors now owns 1,540,488 shares of the company’s stock valued at $65,224,000 after buying an additional 12,286 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cabot Microelectronics by 5.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,051,862 shares of the company’s stock valued at $44,535,000 after buying an additional 58,943 shares during the last quarter. Royce & Associates LP increased its stake in Cabot Microelectronics by 7.8% in the second quarter. Royce & Associates LP now owns 1,004,145 shares of the company’s stock valued at $42,515,000 after buying an additional 72,900 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Cabot Microelectronics by 26.5% in the second quarter. JPMorgan Chase & Co. now owns 937,118 shares of the company’s stock valued at $39,678,000 after buying an additional 196,023 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors.

Cabot Microelectronics Co. (NASDAQ:CCMP) opened at 52.77 on Thursday. Cabot Microelectronics Co. has a 12 month low of $34.53 and a 12 month high of $54.51. The stock has a market cap of $1.26 billion, a P/E ratio of 25.13 and a beta of 1.29. The firm’s 50-day moving average price is $51.37 and its 200-day moving average price is $45.83.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.23. Cabot Microelectronics had a return on equity of 12.66% and a net margin of 12.56%. The company had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $106.73 million. During the same period last year, the firm earned $0.46 earnings per share. Cabot Microelectronics’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts predict that Cabot Microelectronics Co. will post $2.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, September 29th. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 34.45%.

Separately, Zacks Investment Research upgraded Cabot Microelectronics from a “sell” rating to a “hold” rating in a research note on Tuesday, June 21st.

In related news, Director Robert J. Birgeneau sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $50.68, for a total value of $304,080.00. Following the transaction, the director now owns 27,829 shares in the company, valued at approximately $1,410,373.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel J. Pike sold 11,150 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $50.56, for a total value of $563,744.00. Following the completion of the transaction, the vice president now owns 79,286 shares in the company, valued at approximately $4,008,700.16. The disclosure for this sale can be found here. Insiders own 8.20% of the company’s stock.

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.

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