The Narwhal Capital Management Purchases Shares of 13,600 Cabot Microelectronics Corporation (CCMP)

The Narwhal Capital Management Purchases Shares of 13,600 Cabot Microelectronics Corporation (CCMP)

Narwhal Capital Management purchased a new position in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) during the third quarter, Holdings Channel reports. The fund purchased 13,600 shares of the company’s stock, valued at approximately $720,000. Narwhal Capital Management owned approximately 0.06% of Cabot Microelectronics Corporation as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management CA purchased a new stake in Cabot Microelectronics Corporation during the third quarter worth $791,000. Texas Permanent School Fund raised its position in shares of Cabot Microelectronics Corporation by 1.7% in the third quarter. Texas Permanent School Fund now owns 18,388 shares of the company’s stock valued at $973,000 after buying an additional 300 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Cabot Microelectronics Corporation by 3.3% in the third quarter. Great West Life Assurance Co. Can now owns 32,205 shares of the company’s stock valued at $1,703,000 after buying an additional 1,015 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Cabot Microelectronics Corporation by 1.9% in the third quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock valued at $566,000 after buying an additional 200 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Cabot Microelectronics Corporation by 4.4% in the third quarter. Nationwide Fund Advisors now owns 18,730 shares of the company’s stock valued at $991,000 after buying an additional 789 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

Shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) traded up 0.79% during trading on Wednesday, hitting $63.91. 49,406 shares of the company traded hands. Cabot Microelectronics Corporation has a 52-week low of $34.53 and a 52-week high of $65.50. The company has a 50-day moving average of $62.70 and a 200-day moving average of $54.35. The stock has a market capitalization of $1.55 billion, a PE ratio of 26.30 and a beta of 1.33.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.20. The company had revenue of $123 million for the quarter, compared to analyst estimates of $114.50 million. Cabot Microelectronics Corporation had a net margin of 13.81% and a return on equity of 14.40%. The business’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. Equities analysts expect that Cabot Microelectronics Corporation will post $2.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 30th. Shareholders of record on Friday, December 23rd will be paid a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 21st. This represents a $0.72 dividend on an annualized basis and a yield of 1.13%. Cabot Microelectronics Corporation’s dividend payout ratio (DPR) is presently 29.75%.

Separately, Aegis initiated coverage on shares of Cabot Microelectronics Corporation in a research report on Wednesday. They issued a “hold” rating for the company.

In other news, VP Bernstein H. Carol Eckstein sold 13,268 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $62.52, for a total transaction of $829,515.36. Following the completion of the transaction, the vice president now directly owns 70,987 shares of the company’s stock, valued at $4,438,107.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bailing Xia sold 72,006 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $54.76, for a total value of $3,943,048.56. Following the transaction, the director now directly owns 26,351 shares of the company’s stock, valued at $1,442,980.76. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.

Cabot Microelectronics Corporation Company Profile

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.

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