Huntington National Bank held its position in Applied Materials Inc. (NASDAQ:AMAT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,241 shares of the manufacturing equipment provider’s stock at the end of the second quarter. Huntington National Bank’s holdings in Applied Materials were worth $2,397,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Teachers Advisors Inc. raised its position in Applied Materials by 63.8% in the first quarter. Teachers Advisors Inc. now owns 5,210,641 shares of the manufacturing equipment provider’s stock worth $110,361,000 after buying an additional 2,030,178 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in Applied Materials by 35.8% in the first quarter. TIAA CREF Investment Management LLC now owns 10,948,114 shares of the manufacturing equipment provider’s stock worth $231,881,000 after buying an additional 2,885,695 shares during the last quarter. Ngam Advisors L.P. raised its position in Applied Materials by 2.5% in the first quarter. Ngam Advisors L.P. now owns 323,214 shares of the manufacturing equipment provider’s stock worth $6,845,000 after buying an additional 7,763 shares during the last quarter. Morris Capital Advisors LLC bought a new position in Applied Materials during the first quarter worth $283,000. Finally, CIBC World Markets Inc. bought a new position in Applied Materials during the first quarter worth $3,495,000. Institutional investors and hedge funds own 82.20% of the company’s stock.
Shares of Applied Materials Inc. (NASDAQ:AMAT) traded down 2.08% during trading on Friday, hitting $29.66. 13,971,788 shares of the company were exchanged. The stock has a market cap of $32.06 billion, a P/E ratio of 23.39 and a beta of 1.79. Applied Materials Inc. has a 12 month low of $14.33 and a 12 month high of $31.07. The company’s 50-day moving average price is $29.06 and its 200 day moving average price is $24.23.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Applied Materials Inc. will post $1.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 31.25%.
A number of equities analysts have weighed in on the company. Deutsche Bank AG reiterated a “buy” rating and set a $33.00 price objective on shares of Applied Materials in a research note on Thursday. Pacific Crest restated a “buy” rating on shares of Applied Materials in a research note on Thursday. Berenberg Bank lifted their price target on Applied Materials from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday. Nomura restated a “buy” rating and issued a $31.00 price target on shares of Applied Materials in a research note on Thursday. Finally, B. Riley restated a “buy” rating and issued a $39.00 price target on shares of Applied Materials in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $30.72.
In related news, VP Omkaram Nalamasu sold 26,035 shares of Applied Materials stock in a transaction on Friday, August 26th. The shares were sold at an average price of $30.15, for a total transaction of $784,955.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $30.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
Applied Materials Company Profile
Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.
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