Ameriprise Financial Inc. cut its stake in shares of Cambrex Corp. (NYSE:CBM) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 281,803 shares of the company’s stock after selling 21,781 shares during the period. Ameriprise Financial Inc. owned 0.88% of Cambrex Corp. worth $14,577,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Blair William & Co. IL increased its stake in Cambrex Corp. by 0.3% in the second quarter. Blair William & Co. IL now owns 17,301 shares of the company’s stock valued at $895,000 after buying an additional 60 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Cambrex Corp. by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the company’s stock valued at $735,000 after buying an additional 100 shares in the last quarter. Insight Capital Research & Management Inc. increased its stake in Cambrex Corp. by 0.3% in the first quarter. Insight Capital Research & Management Inc. now owns 70,136 shares of the company’s stock valued at $3,086,000 after buying an additional 180 shares in the last quarter. Aperio Group LLC increased its stake in Cambrex Corp. by 3.0% in the first quarter. Aperio Group LLC now owns 7,576 shares of the company’s stock valued at $333,000 after buying an additional 221 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in Cambrex Corp. by 2.8% in the second quarter. Suntrust Banks Inc. now owns 10,970 shares of the company’s stock valued at $566,000 after buying an additional 298 shares in the last quarter. 99.46% of the stock is currently owned by hedge funds and other institutional investors.
Cambrex Corp. (NYSE:CBM) traded up 0.65% during mid-day trading on Friday, hitting $46.60. The company had a trading volume of 397,104 shares. Cambrex Corp. has a 12-month low of $29.50 and a 12-month high of $59.41. The firm has a market capitalization of $1.50 billion, a PE ratio of 23.56 and a beta of 1.45. The company’s 50 day moving average price is $45.40 and its 200-day moving average price is $47.54.
Cambrex Corp. (NYSE:CBM) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.09. The business earned $118.22 million during the quarter, compared to the consensus estimate of $114.85 million. Cambrex Corp. had a return on equity of 24.86% and a net margin of 13.97%. Cambrex Corp.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. On average, analysts forecast that Cambrex Corp. will post $2.56 EPS for the current fiscal year.
Separately, Zacks Investment Research raised Cambrex Corp. from a “hold” rating to a “strong-buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, August 3rd.
In related news, Director William B. Korb sold 3,420 shares of the stock in a transaction on Monday, July 11th. The stock was sold at an average price of $55.00, for a total value of $188,100.00. Following the completion of the sale, the director now directly owns 23,982 shares in the company, valued at $1,319,010. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.63% of the stock is owned by corporate insiders.
Cambrex Corp. Company Profile
Cambrex Corporation (Cambrex) is a life sciences company. The Company provides products and services for the development and commercialization of new and generic therapeutics. The Company supplies its products and services across the world to generic pharmaceutical companies. Cambrex operates through three segments, which are manufacturing facilities.
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