Bessemer Group Inc. lowered its stake in shares of Cabot Microelectronics Corporation (NASDAQ:CCMP) by 58.0% during the second quarter, Holdings Channel reports. The firm owned 14,900 shares of the semiconductor company’s stock after selling 20,600 shares during the period. Bessemer Group Inc.’s holdings in Cabot Microelectronics Corporation were worth $1,100,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Profund Advisors LLC boosted its position in shares of Cabot Microelectronics Corporation by 1.6% in the first quarter. Profund Advisors LLC now owns 4,473 shares of the semiconductor company’s stock valued at $343,000 after buying an additional 69 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of Cabot Microelectronics Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 6,900 shares of the semiconductor company’s stock valued at $529,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Cabot Microelectronics Corporation by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the semiconductor company’s stock valued at $760,000 after buying an additional 100 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Cabot Microelectronics Corporation by 0.9% in the first quarter. Hillsdale Investment Management Inc. now owns 16,550 shares of the semiconductor company’s stock valued at $1,267,000 after buying an additional 150 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Cabot Microelectronics Corporation by 6.1% in the first quarter. State of Alaska Department of Revenue now owns 2,770 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 160 shares during the last quarter. 95.10% of the stock is currently owned by institutional investors.

Cabot Microelectronics Corporation (CCMP) opened at 70.98 on Tuesday. The company has a market cap of $1.79 billion, a P/E ratio of 22.14 and a beta of 1.48. Cabot Microelectronics Corporation has a 1-year low of $47.31 and a 1-year high of $81.85. The stock has a 50 day moving average price of $74.92 and a 200 day moving average price of $73.74.

Cabot Microelectronics Corporation (NASDAQ:CCMP) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by $0.03. Cabot Microelectronics Corporation had a return on equity of 16.08% and a net margin of 16.41%. The company had revenue of $128 million during the quarter, compared to analysts’ expectations of $122.17 million. During the same quarter in the previous year, the company earned $0.79 EPS. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities research analysts anticipate that Cabot Microelectronics Corporation will post $3.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, June 23rd were paid a $0.20 dividend. The ex-dividend date was Wednesday, June 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.13%. Cabot Microelectronics Corporation’s payout ratio is 25.08%.

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Several research analysts have issued reports on CCMP shares. BidaskClub cut Cabot Microelectronics Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Needham & Company LLC raised Cabot Microelectronics Corporation from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Tuesday, June 27th.

In other news, VP Daniel D. Woodland sold 432 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $74.90, for a total value of $32,356.80. Following the sale, the vice president now owns 17,588 shares in the company, valued at $1,317,341.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William S. Johnson sold 11,806 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $73.77, for a total value of $870,928.62. Following the completion of the sale, the insider now owns 94,911 shares in the company, valued at approximately $7,001,584.47. The disclosure for this sale can be found here. Insiders sold 24,740 shares of company stock worth $1,799,554 in the last 90 days. Company insiders own 5.50% 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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Institutional Ownership by Quarter for Cabot Microelectronics Corporation (NASDAQ:CCMP)

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