Los Angeles Capital Management & Equity Research Inc. reduced its position in shares of Cambrex Corp. (NYSE:CBM) by 26.2% during the second quarter, Holdings Channel reports. The institutional investor owned 5,475 shares of the company’s stock after selling 1,945 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Cambrex Corp. were worth $283,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Intrust Bank NA purchased a new position in shares of Cambrex Corp. during the second quarter worth $206,000. Pinnacle Financial Partners Inc. purchased a new position in shares of Cambrex Corp. during the second quarter worth $256,000. Bayesian Capital Management LP purchased a new position in shares of Cambrex Corp. during the first quarter worth $276,000. Aperio Group LLC boosted its position in shares of Cambrex Corp. by 3.0% in the first quarter. Aperio Group LLC now owns 7,576 shares of the company’s stock worth $333,000 after buying an additional 221 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Cambrex Corp. by 15.7% in the first quarter. Glenmede Trust Co. NA now owns 11,888 shares of the company’s stock worth $522,000 after buying an additional 1,612 shares in the last quarter. Institutional investors and hedge funds own 99.46% of the company’s stock.
Cambrex Corp. (NYSE:CBM) traded down 2.83% during mid-day trading on Thursday, hitting $44.25. The company had a trading volume of 334,232 shares. The company’s 50 day moving average price is $45.21 and its 200-day moving average price is $47.68. Cambrex Corp. has a one year low of $29.50 and a one year high of $59.41. The company has a market cap of $1.42 billion, a PE ratio of 22.37 and a beta of 1.45.
Cambrex Corp. (NYSE:CBM) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.09. Cambrex Corp. had a return on equity of 24.86% and a net margin of 13.97%. The business earned $118.22 million during the quarter, compared to analyst estimates of $114.85 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Cambrex Corp. will post $2.56 EPS for the current fiscal year.
Separately, Zacks Investment Research cut Cambrex Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
In related news, Director William B. Korb sold 3,420 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $55.00, for a total transaction of $188,100.00. Following the completion of the transaction, the director now owns 23,982 shares in the company, valued at approximately $1,319,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.63% of the company’s stock.
About Cambrex Corp.
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.
Want to see what other hedge funds are holding CBM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cambrex Corp. (NYSE:CBM).
Receive News & Ratings for Cambrex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cambrex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.