Standard Life Aberdeen plc increased its position in Cabot Microelectronics Co. (NASDAQ:CCMP) by 70.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,298 shares of the semiconductor company’s stock after purchasing an additional 131,890 shares during the period. Standard Life Aberdeen plc owned approximately 1.10% of Cabot Microelectronics worth $46,226,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in Cabot Microelectronics during the 4th quarter valued at about $28,000. Great Diamond Partners LLC purchased a new position in shares of Cabot Microelectronics during the fourth quarter valued at approximately $29,000. Carroll Financial Associates Inc. raised its holdings in shares of Cabot Microelectronics by 1,365.0% during the fourth quarter. Carroll Financial Associates Inc. now owns 293 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 273 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Cabot Microelectronics during the fourth quarter valued at approximately $43,000. Finally, Evoke Wealth LLC bought a new position in Cabot Microelectronics during the third quarter valued at approximately $50,000. Institutional investors own 99.49% of the company’s stock.
Shares of Cabot Microelectronics stock traded up $15.54 on Thursday, hitting $118.08. 337,062 shares of the company’s stock were exchanged, compared to its average volume of 286,138. Cabot Microelectronics Co. has a 1 year low of $85.26 and a 1 year high of $169.13. The company has a 50-day simple moving average of $136.63 and a 200-day simple moving average of $141.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.34 and a current ratio of 3.33. The stock has a market capitalization of $3.01 billion, a PE ratio of 54.67 and a beta of 1.31.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Tuesday, March 24th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, March 23rd. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.49%. Cabot Microelectronics’s payout ratio is 26.19%.
A number of equities research analysts have commented on the stock. Sanford C. Bernstein reaffirmed a “sell” rating on shares of Cabot Microelectronics in a research report on Tuesday, February 11th. Goldman Sachs Group downgraded Cabot Microelectronics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $178.00 to $92.00 in a research note on Tuesday. Citigroup lifted their price objective on Cabot Microelectronics from $140.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. TheStreet upgraded Cabot Microelectronics from a “c+” rating to a “b+” rating in a research report on Thursday, February 6th. Finally, Zacks Investment Research cut Cabot Microelectronics from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $147.00.
In related news, insider Thomas S. Roman sold 6,075 shares of Cabot Microelectronics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $160.80, for a total transaction of $976,860.00. Following the transaction, the insider now owns 9,262 shares in the company, valued at approximately $1,489,329.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David H. Li sold 38,850 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $160.69, for a total transaction of $6,242,806.50. Following the completion of the transaction, the chief executive officer now directly owns 104,445 shares of the company’s stock, valued at approximately $16,783,267.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,135 shares of company stock valued at $9,374,123. 2.40% of the stock is currently owned by corporate insiders.
About Cabot Microelectronics
Cabot Microelectronics Corp. engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. The firm offers chemical mechanical planarization slurries for polishing many of the conducting, insulating and isolating materials used in integrated circuit devices, and for polishing the disk substrates and magnetic heads used in hard disk drives.
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