Cabot Microelectronics Corp. (NASDAQ:CCMP) shares saw an uptick in trading volume on Thursday following a dividend announcement from the company. 112,626 shares were traded during trading, an increase of 13% from the previous session’s volume of 99,969 shares.The stock last traded at $51.96 and had previously closed at $51.74.
The newly announced dividend which will be paid on Friday, October 28th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, September 29th. Cabot Microelectronics Corp.’s payout ratio is 34.45%.
Separately, Zacks Investment Research raised shares of Cabot Microelectronics Corp. from a “sell” rating to a “hold” rating in a report on Monday, June 6th.
The firm has a market cap of $1.25 billion, a PE ratio of 24.93 and a beta of 1.35. The firm has a 50 day moving average price of $50.12 and a 200-day moving average price of $44.52.
Cabot Microelectronics Corp. (NASDAQ:CCMP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.23. Cabot Microelectronics Corp. had a net margin of 12.56% and a return on equity of 12.66%. The firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $106.73 million. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, equities research analysts predict that Cabot Microelectronics Corp. will post $2.47 earnings per share for the current fiscal year.
In other news, VP Ananth Naman sold 16,208 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $49.62, for a total value of $804,240.96. Following the sale, the vice president now directly owns 22,593 shares of the company’s stock, valued at $1,121,064.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Yumiko Damashek sold 2,888 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $50.70, for a total transaction of $146,421.60. Following the completion of the sale, the vice president now directly owns 32,630 shares in the company, valued at $1,654,341. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in CCMP. Norges Bank bought a new stake in shares of Cabot Microelectronics Corp. during the fourth quarter worth $14,346,000. GW&K Investment Management LLC increased its stake in shares of Cabot Microelectronics Corp. by 84.5% in the first quarter. GW&K Investment Management LLC now owns 49,304 shares of the company’s stock worth $2,017,000 after buying an additional 22,579 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of Cabot Microelectronics Corp. by 18.9% in the first quarter. Glenmede Trust Co. NA now owns 12,610 shares of the company’s stock worth $515,000 after buying an additional 2,005 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Cabot Microelectronics Corp. by 80.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,440 shares of the company’s stock worth $345,000 after buying an additional 3,760 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in shares of Cabot Microelectronics Corp. by 2.0% in the first quarter. Teachers Advisors Inc. now owns 216,458 shares of the company’s stock worth $8,855,000 after buying an additional 4,263 shares in the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.
About Cabot Microelectronics Corp.
Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is into the development, manufacture and sale of CMP consumables products.
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