Select Equity Group L.P. Lowers Holdings in Entegris, Inc. (NASDAQ:ENTG)

Select Equity Group L.P. reduced its stake in shares of Entegris, Inc. (NASDAQ:ENTG) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,200,553 shares of the semiconductor company’s stock after selling 390,880 shares during the quarter. Entegris accounts for 2.2% of Select Equity Group L.P.’s holdings, making the stock its 14th largest position. Select Equity Group L.P. owned approximately 2.79% of Entegris worth $568,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in shares of Entegris by 2.8% during the 2nd quarter. Mackenzie Financial Corp now owns 7,265 shares of the semiconductor company’s stock valued at $984,000 after purchasing an additional 197 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in Entegris during the second quarter valued at $1,452,000. Earnest Partners LLC increased its holdings in Entegris by 0.6% in the second quarter. Earnest Partners LLC now owns 1,858,757 shares of the semiconductor company’s stock valued at $251,676,000 after buying an additional 11,692 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Entegris by 19.3% in the second quarter. AQR Capital Management LLC now owns 2,999 shares of the semiconductor company’s stock worth $406,000 after acquiring an additional 486 shares during the period. Finally, Caxton Associates LP boosted its stake in shares of Entegris by 463.2% during the 2nd quarter. Caxton Associates LP now owns 160,000 shares of the semiconductor company’s stock worth $21,664,000 after acquiring an additional 131,589 shares in the last quarter.

Insider Transactions at Entegris

In related news, insider Daniel D. Woodland sold 15,000 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the sale, the insider now owns 37,457 shares of the company’s stock, valued at $5,431,265. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entegris news, CEO Bertrand Loy sold 27,044 shares of Entegris stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $140.63, for a total value of $3,803,197.72. Following the sale, the chief executive officer now owns 263,068 shares in the company, valued at $36,995,252.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel D. Woodland sold 15,000 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the transaction, the insider now owns 37,457 shares of the company’s stock, valued at $5,431,265. The disclosure for this sale can be found here. Insiders have sold a total of 57,044 shares of company stock worth $8,078,198 in the last quarter. Company insiders own 0.67% of the company’s stock.

Entegris Stock Performance

NASDAQ:ENTG opened at $116.61 on Friday. The company has a market cap of $17.58 billion, a P/E ratio of 56.06, a P/E/G ratio of 1.50 and a beta of 1.24. Entegris, Inc. has a twelve month low of $84.13 and a twelve month high of $147.57. The company’s 50-day moving average price is $112.99 and its 200-day moving average price is $126.95. The company has a current ratio of 3.58, a quick ratio of 2.14 and a debt-to-equity ratio of 1.18.

Entegris (NASDAQ:ENTG) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. Entegris had a return on equity of 12.03% and a net margin of 5.61%. The business had revenue of $812.60 million for the quarter, compared to analysts’ expectations of $802.43 million. During the same period in the previous year, the firm posted $0.66 EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, sell-side analysts forecast that Entegris, Inc. will post 3.14 earnings per share for the current fiscal year.

Entegris Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders of record on Wednesday, July 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Wednesday, July 31st. Entegris’s dividend payout ratio (DPR) is presently 19.23%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ENTG. Citigroup upgraded Entegris from a “neutral” rating to a “buy” rating and lifted their price target for the company from $119.00 to $130.00 in a research note on Monday, September 16th. Mizuho raised Entegris from a “neutral” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Entegris from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Entegris in a report on Thursday, August 1st. Finally, BMO Capital Markets cut their target price on shares of Entegris from $160.00 to $145.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $146.40.

Entegris Company Profile

Entegris, Inc develops, manufactures, and supplies microcontamination control products, specialty chemicals, and advanced materials handling solutions in North America, Taiwan, China, South Korea, Japan, Europe, and Southeast Asia. It operates in three segments: Materials Solutions (MS); Microcontamination Control (MC); and Advanced Materials Handling (AMH).