Cabot Microelectronics Co. (NASDAQ:CCMP) Position Boosted by Mason Street Advisors LLC

Mason Street Advisors LLC increased its holdings in Cabot Microelectronics Co. (NASDAQ:CCMP) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,859 shares of the semiconductor company’s stock after buying an additional 158 shares during the quarter. Mason Street Advisors LLC’s holdings in Cabot Microelectronics were worth $1,392,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Huntington National Bank grew its holdings in Cabot Microelectronics by 81.1% in the 2nd quarter. Huntington National Bank now owns 306 shares of the semiconductor company’s stock worth $34,000 after buying an additional 137 shares in the last quarter. NumerixS Investment Technologies Inc bought a new position in Cabot Microelectronics in the 2nd quarter worth approximately $44,000. Tower Research Capital LLC TRC bought a new position in Cabot Microelectronics in the 2nd quarter worth approximately $130,000. Griffin Asset Management Inc. bought a new position in Cabot Microelectronics in the 2nd quarter worth approximately $202,000. Finally, United Capital Financial Advisers LLC bought a new position in Cabot Microelectronics during the 2nd quarter valued at $206,000. 97.44% of the stock is owned by institutional investors and hedge funds.

In other news, Director Barbara A. Klein sold 5,196 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $123.38, for a total transaction of $641,082.48. Following the completion of the sale, the director now owns 34,808 shares in the company, valued at approximately $4,294,611.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.

A number of brokerages have issued reports on CCMP. ValuEngine lowered Cabot Microelectronics from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Loop Capital lowered Cabot Microelectronics from a “buy” rating to a “hold” rating and set a $156.00 price target for the company. in a research note on Thursday. Zacks Investment Research raised Cabot Microelectronics from a “strong sell” rating to a “hold” rating and set a $157.00 price target for the company in a research note on Monday, October 14th. Buckingham Research reaffirmed a “buy” rating and set a $170.00 price target (up from $150.00) on shares of Cabot Microelectronics in a research note on Monday, October 28th. Finally, BidaskClub downgraded Cabot Microelectronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $151.20.

Shares of NASDAQ:CCMP opened at $156.01 on Monday. Cabot Microelectronics Co. has a one year low of $82.24 and a one year high of $160.81. The stock has a fifty day moving average of $146.92 and a 200-day moving average of $124.11. The company has a market capitalization of $4.45 billion, a PE ratio of 29.89 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.12 and a current ratio of 3.06.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 30th. Stockholders of record on Wednesday, October 9th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.08%. Cabot Microelectronics’s dividend payout ratio (DPR) is presently 32.18%.

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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Institutional Ownership by Quarter for Cabot Microelectronics (NASDAQ:CCMP)

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