Cambrex Corporation (CBM) Shares Sold by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its stake in Cambrex Corporation (NYSE:CBM) by 79.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,106 shares of the biotechnology company’s stock after selling 225,220 shares during the period. Russell Investments Group Ltd. owned about 0.18% of Cambrex Corporation worth $3,471,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its position in Cambrex Corporation by 156,940.2% in the first quarter. BlackRock Inc. now owns 4,002,955 shares of the biotechnology company’s stock valued at $220,363,000 after buying an additional 4,000,406 shares in the last quarter. Vanguard Group Inc. boosted its position in Cambrex Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,138,934 shares of the biotechnology company’s stock valued at $172,799,000 after buying an additional 139,010 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Cambrex Corporation by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 1,646,618 shares of the biotechnology company’s stock valued at $90,646,000 after buying an additional 105,470 shares in the last quarter. Congress Asset Management Co. MA boosted its position in Cambrex Corporation by 11.8% in the first quarter. Congress Asset Management Co. MA now owns 1,193,123 shares of the biotechnology company’s stock valued at $65,681,000 after buying an additional 125,996 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Cambrex Corporation by 34.8% in the first quarter. Clearbridge Investments LLC now owns 971,174 shares of the biotechnology company’s stock valued at $53,463,000 after buying an additional 250,662 shares in the last quarter. 98.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cambrex Corporation (NYSE CBM) traded up 1.20% during mid-day trading on Monday, hitting $50.45. The company’s stock had a trading volume of 154,204 shares. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 18.38 and a beta of 2.28. The stock’s 50 day moving average price is $56.43 and its 200 day moving average price is $55.37. Cambrex Corporation has a 52-week low of $38.30 and a 52-week high of $62.95.
Cambrex Corporation (NYSE:CBM) last posted its earnings results on Friday, August 4th. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. Cambrex Corporation had a net margin of 17.70% and a return on equity of 24.25%. The business had revenue of $134.55 million for the quarter, compared to analyst estimates of $136.82 million. During the same period in the prior year, the company posted $0.68 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts forecast that Cambrex Corporation will post $3.08 EPS for the current year.
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Several research analysts have weighed in on CBM shares. BidaskClub cut Cambrex Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised Cambrex Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Thursday, May 11th. Finally, ValuEngine cut Cambrex Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.00.
In other news, Director Leon J. Hendrix, Jr. sold 20,656 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $55.95, for a total transaction of $1,155,703.20. Following the sale, the director now directly owns 74,662 shares of the company’s stock, valued at approximately $4,177,338.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steven M. Klosk sold 12,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $61.39, for a total transaction of $736,680.00. Following the sale, the chief executive officer now directly owns 95,328 shares in the company, valued at $5,852,185.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,656 shares of company stock worth $4,064,423. Corporate insiders own 2.48% of the company’s stock.
About Cambrex Corporation
Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.
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