Shares of CMC Materials, Inc. (NASDAQ:CCMP) have been given a consensus rating of “Hold” by the fourteen analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $147.50.
A number of analysts recently commented on the stock. BidaskClub upgraded shares of CMC Materials from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. Seaport Global Securities restated a “neutral” rating on shares of CMC Materials in a research note on Monday, November 16th. Smith Barney Citigroup cut shares of CMC Materials from a “neutral” rating to a “sell” rating and set a $140.00 price target on the stock. in a research note on Friday, November 13th. Loop Capital lowered their target price on shares of CMC Materials from $187.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, November 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of CMC Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, November 18th.
CCMP traded down $2.15 during midday trading on Friday, reaching $163.88. The company had a trading volume of 9,172 shares, compared to its average volume of 283,846. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.30 and a current ratio of 3.18. The stock has a market cap of $4.77 billion, a PE ratio of 34.37 and a beta of 1.17. CMC Materials has a 12-month low of $85.26 and a 12-month high of $174.87. The business has a 50-day moving average price of $149.43 and a two-hundred day moving average price of $148.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Tuesday, December 22nd will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Monday, December 21st. CMC Materials’s payout ratio is 23.56%.
In other news, VP Jeffrey Michael Dysard sold 1,370 shares of the stock in a transaction on Thursday, December 10th. The shares were sold at an average price of $146.67, for a total value of $200,937.90. Following the transaction, the vice president now owns 7,383 shares of the company’s stock, valued at approximately $1,082,864.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara A. Klein sold 6,625 shares of the stock in a transaction on Wednesday, November 25th. The stock was sold at an average price of $152.05, for a total transaction of $1,007,331.25. Following the completion of the transaction, the director now directly owns 30,079 shares in the company, valued at approximately $4,573,511.95. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of CCMP. William Blair Investment Management LLC bought a new position in shares of CMC Materials during the 3rd quarter valued at $24,539,000. Point72 Asset Management L.P. bought a new stake in CMC Materials in the 3rd quarter worth $22,085,000. GW&K Investment Management LLC grew its holdings in CMC Materials by 350.3% in the 3rd quarter. GW&K Investment Management LLC now owns 157,035 shares of the semiconductor company’s stock worth $22,426,000 after acquiring an additional 122,159 shares during the last quarter. FMR LLC grew its holdings in CMC Materials by 32.8% in the 1st quarter. FMR LLC now owns 332,164 shares of the semiconductor company’s stock worth $37,189,000 after acquiring an additional 82,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in CMC Materials by 27.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 288,147 shares of the semiconductor company’s stock worth $41,151,000 after acquiring an additional 62,296 shares during the last quarter. 87.16% of the stock is currently owned by hedge funds and other institutional investors.
About CMC Materials
CMC Materials, Inc, together with its subsidiaries, provides consumable materials to semiconductor manufacturers, and pipeline and adjacent industry customers in North America, Asia, Europe, the Middle East, Africa, and South America. The company operates through two segments, Electronic Materials and Performance Materials.
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