Bahl & Gaynor Inc. Has $3.55 Million Stock Position in Universal Display Co. (NASDAQ:OLED)

Bahl & Gaynor Inc. grew its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,544 shares of the semiconductor company’s stock after purchasing an additional 256 shares during the period. Bahl & Gaynor Inc.’s holdings in Universal Display were worth $3,547,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of Universal Display during the 3rd quarter worth approximately $31,000. Rise Advisors LLC acquired a new position in shares of Universal Display during the 4th quarter worth approximately $57,000. GAMMA Investing LLC acquired a new position in shares of Universal Display during the 4th quarter worth approximately $73,000. Fifth Third Bancorp grew its position in shares of Universal Display by 22.5% during the 3rd quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock worth $93,000 after purchasing an additional 109 shares in the last quarter. Finally, CWM LLC grew its position in shares of Universal Display by 21.0% during the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock worth $116,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on OLED. Citigroup reiterated a “neutral” rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. TD Cowen increased their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $198.00 price target on shares of Universal Display in a research report on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus target price of $199.86.

Universal Display Stock Performance

OLED stock opened at $158.31 on Friday. The company has a fifty day moving average price of $165.96 and a 200-day moving average price of $169.09. The company has a market capitalization of $7.50 billion, a P/E ratio of 37.34, a PEG ratio of 1.71 and a beta of 1.45. Universal Display Co. has a 52-week low of $125.98 and a 52-week high of $194.84.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The company had revenue of $158.32 million during the quarter, compared to analysts’ expectations of $161.08 million. During the same period in the prior year, the company posted $1.36 earnings per share. Universal Display’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Universal Display Co. will post 4.72 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.01%. This is a boost from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Universal Display’s dividend payout ratio (DPR) is presently 37.74%.

Universal Display Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.