American International Group Inc. Has $1.58 Million Stake in Cabot Microelectronics Co. (CCMP)

American International Group Inc. lifted its holdings in shares of Cabot Microelectronics Co. (NASDAQ:CCMP) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,767 shares of the semiconductor company’s stock after purchasing an additional 1,076 shares during the quarter. American International Group Inc. owned about 0.08% of Cabot Microelectronics worth $1,580,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CCMP. Neuberger Berman Group LLC acquired a new stake in shares of Cabot Microelectronics during the second quarter worth $36,933,000. BlackRock Inc. boosted its holdings in shares of Cabot Microelectronics by 6.5% during the second quarter. BlackRock Inc. now owns 3,146,531 shares of the semiconductor company’s stock worth $232,307,000 after purchasing an additional 193,272 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cabot Microelectronics by 7.3% during the second quarter. Vanguard Group Inc. now owns 2,355,224 shares of the semiconductor company’s stock worth $173,886,000 after purchasing an additional 160,668 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Cabot Microelectronics by 33.9% during the second quarter. Renaissance Technologies LLC now owns 573,109 shares of the semiconductor company’s stock worth $42,313,000 after purchasing an additional 145,109 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in shares of Cabot Microelectronics during the second quarter worth $9,264,000. Institutional investors and hedge funds own 93.12% of the company’s stock.

Cabot Microelectronics Co. (NASDAQ:CCMP) opened at $90.73 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.04 and a quick ratio of 5.25. The firm has a market capitalization of $2,340.70, a price-to-earnings ratio of 25.93 and a beta of 1.42. Cabot Microelectronics Co. has a 52-week low of $61.06 and a 52-week high of $102.92.

Cabot Microelectronics (NASDAQ:CCMP) last issued its earnings results on Thursday, October 26th. The semiconductor company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.20. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $132.18 million. Cabot Microelectronics had a return on equity of 16.27% and a net margin of 17.10%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. analysts predict that Cabot Microelectronics Co. will post 4.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, December 21st. Cabot Microelectronics’s dividend payout ratio (DPR) is currently 23.60%.

In related news, VP Yumiko Damashek sold 817 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $97.58, for a total value of $79,722.86. Following the transaction, the vice president now directly owns 30,120 shares of the company’s stock, valued at approximately $2,939,109.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel D. Woodland sold 8,567 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $93.40, for a total value of $800,157.80. Following the completion of the transaction, the vice president now directly owns 15,404 shares in the company, valued at $1,438,733.60. The disclosure for this sale can be found here. Insiders sold a total of 72,794 shares of company stock worth $7,028,546 over the last ninety days. Corporate insiders own 5.50% of the company’s stock.

CCMP has been the topic of several analyst reports. Zacks Investment Research cut Cabot Microelectronics from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Seaport Global Securities initiated coverage on Cabot Microelectronics in a report on Wednesday, September 6th. They set a “buy” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Cabot Microelectronics in a report on Tuesday, September 19th. Loop Capital initiated coverage on Cabot Microelectronics in a report on Thursday, September 28th. They set a “buy” rating and a $94.00 price objective on the stock. Finally, Citigroup raised their price objective on Cabot Microelectronics from $80.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $99.75.

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About Cabot Microelectronics

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.

Institutional Ownership by Quarter for Cabot Microelectronics (NASDAQ:CCMP)

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