Shell Asset Management Co. Has $465,000 Stake in CMC Materials, Inc. (NASDAQ:CCMP)

Shell Asset Management Co. decreased its position in shares of CMC Materials, Inc. (NASDAQ:CCMP – Get Rating) by 12.9% during the 1st quarter, HoldingsChannel reports. The fund owned 2,508 shares of the semiconductor company’s stock after selling 371 shares during the period. Shell Asset Management Co.’s holdings in CMC Materials were worth $465,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Confluence Wealth Services Inc. bought a new position in CMC Materials during the 4th quarter worth $37,000. Wolverine Asset Management LLC bought a new position in CMC Materials during the 4th quarter worth $38,000. First Horizon Advisors Inc. raised its position in CMC Materials by 72.0% during the 4th quarter. First Horizon Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Sageworth Trust Co of South Dakota bought a new position in CMC Materials during the 4th quarter worth $62,000. Finally, Rockefeller Capital Management L.P. raised its position in CMC Materials by 51.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 329 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 93.72% of the company’s stock.

Wall Street Analyst Weigh In

CCMP has been the subject of several analyst reports. StockNews.com initiated coverage on CMC Materials in a research report on Monday. They set a “buy” rating for the company. CL King lowered CMC Materials from a “buy” rating to a “neutral” rating in a research report on Thursday, April 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $197.25.

CMC Materials Stock Performance

Shares of CMC Materials stock opened at $173.69 on Thursday. CMC Materials, Inc. has a one year low of $119.19 and a one year high of $197.00. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 45.47 and a beta of 1.09. The business has a 50-day simple moving average of $175.31 and a 200 day simple moving average of $179.04. The company has a debt-to-equity ratio of 0.95, a current ratio of 3.15 and a quick ratio of 2.22.

CMC Materials (NASDAQ:CCMP – Get Rating) last issued its earnings results on Wednesday, May 4th. The semiconductor company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.11. CMC Materials had a return on equity of 23.55% and a net margin of 8.85%. The business had revenue of $324.13 million during the quarter, compared to analyst estimates of $312.90 million. During the same period in the previous year, the company posted $1.71 EPS. On average, research analysts anticipate that CMC Materials, Inc. will post 7.55 earnings per share for the current fiscal year.

Insider Activity at CMC Materials

In related news, Director Susan M. Whitney sold 7,500 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $177.99, for a total value of $1,334,925.00. Following the completion of the sale, the director now directly owns 12,047 shares of the company’s stock, valued at approximately $2,144,245.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.

CMC Materials Company Profile

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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 in two segments, Electronic Materials and Performance Materials.