Natixis Investment Managers International Sells 445 Shares of CMC Materials, Inc. (NASDAQ:CCMP)

Natixis Investment Managers International trimmed its position in shares of CMC Materials, Inc. (NASDAQ:CCMP) by 18.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,025 shares of the semiconductor company’s stock after selling 445 shares during the period. Natixis Investment Managers International’s holdings in CMC Materials were worth $305,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CCMP. Brown Advisory Inc. increased its position in shares of CMC Materials by 24.6% during the first quarter. Brown Advisory Inc. now owns 1,090,421 shares of the semiconductor company’s stock valued at $192,774,000 after purchasing an additional 215,500 shares during the period. Southernsun Asset Management LLC bought a new stake in CMC Materials in the second quarter valued at $28,637,000. Point72 Asset Management L.P. boosted its stake in CMC Materials by 22.3% in the first quarter. Point72 Asset Management L.P. now owns 716,421 shares of the semiconductor company’s stock worth $126,656,000 after purchasing an additional 130,421 shares in the last quarter. Millennium Management LLC boosted its stake in CMC Materials by 4,008.1% in the first quarter. Millennium Management LLC now owns 92,637 shares of the semiconductor company’s stock worth $16,377,000 after purchasing an additional 90,382 shares in the last quarter. Finally, FMR LLC boosted its stake in CMC Materials by 32.8% in the first quarter. FMR LLC now owns 332,164 shares of the semiconductor company’s stock worth $37,189,000 after purchasing an additional 82,081 shares in the last quarter. Institutional investors own 94.80% of the company’s stock.

Shares of NASDAQ:CCMP traded up $2.82 on Thursday, hitting $123.56. The company had a trading volume of 1 shares, compared to its average volume of 206,193. CMC Materials, Inc. has a 1-year low of $119.19 and a 1-year high of $198.60. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -71.87 and a beta of 1.09. The stock has a 50 day moving average price of $126.25 and a 200 day moving average price of $148.26. The company has a current ratio of 3.03, a quick ratio of 2.17 and a debt-to-equity ratio of 0.92.

CMC Materials (NASDAQ:CCMP) last released its quarterly earnings results on Tuesday, August 3rd. The semiconductor company reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.14). CMC Materials had a positive return on equity of 21.41% and a negative net margin of 4.11%. The business had revenue of $309.52 million for the quarter, compared to the consensus estimate of $308.54 million. During the same period in the prior year, the business posted $1.80 earnings per share. CMC Materials’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that CMC Materials, Inc. will post 7.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 5th. Shareholders of record on Wednesday, October 13th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.49%. The ex-dividend date is Tuesday, October 12th. CMC Materials’s dividend payout ratio is currently 24.63%.

CCMP has been the topic of several research reports. Wolfe Research raised CMC Materials from an “underperform” rating to a “market perform” rating in a research note on Wednesday, September 15th. Zacks Investment Research upgraded CMC Materials from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Mizuho assumed coverage on CMC Materials in a report on Tuesday. They issued a “buy” rating and a $152.00 price target for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $164.30.

CMC Materials Company Profile

CMC Materials, Inc engages in the development, manufacture, and sale of chemical mechanical planarization consumables products. It operates through the following segments: Electronic Materials and Performance Material. The Electronic Materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business.

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Institutional Ownership by Quarter for CMC Materials (NASDAQ:CCMP)

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