Arizona State Retirement System Sells 181 Shares of CMC Materials, Inc. (NASDAQ:CCMP)

Arizona State Retirement System cut its stake in CMC Materials, Inc. (NASDAQ:CCMP – Get Rating) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,684 shares of the semiconductor company’s stock after selling 181 shares during the period. Arizona State Retirement System’s holdings in CMC Materials were worth $1,425,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CCMP. Strs Ohio raised its stake in shares of CMC Materials by 40.0% in the fourth quarter. Strs Ohio now owns 2,100 shares of the semiconductor company’s stock worth $402,000 after acquiring an additional 600 shares during the last quarter. National Asset Management Inc. grew its position in shares of CMC Materials by 9.7% during the 4th quarter. National Asset Management Inc. now owns 2,307 shares of the semiconductor company’s stock worth $443,000 after buying an additional 204 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of CMC Materials during the 4th quarter worth approximately $1,388,000. Yousif Capital Management LLC acquired a new stake in shares of CMC Materials during the 4th quarter worth approximately $2,863,000. Finally, Equitable Trust Co. grew its position in shares of CMC Materials by 3.7% during the 4th quarter. Equitable Trust Co. now owns 3,491 shares of the semiconductor company’s stock worth $669,000 after buying an additional 124 shares during the period. 93.72% of the stock is owned by institutional investors.

CMC Materials Price Performance

CMC Materials stock opened at $173.69 on Tuesday. The stock has a market capitalization of $4.97 billion, a PE ratio of 45.47 and a beta of 1.09. CMC Materials, Inc. has a twelve month low of $119.19 and a twelve month high of $197.00. The company has a quick ratio of 2.22, a current ratio of 3.15 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average of $175.14 and a 200-day moving average of $179.21.

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

Insider Transactions at CMC Materials

In other news, Director Susan M. Whitney sold 7,500 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $177.99, for a total value of $1,334,925.00. Following the sale, the director now owns 12,047 shares of the company’s stock, valued at $2,144,245.53. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCMP. StockNews.com began coverage on shares of CMC Materials in a report on Monday. They set a “buy” rating for the company. CL King cut shares of CMC Materials from a “buy” rating to a “neutral” rating in a report on Thursday, April 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, CMC Materials currently has a consensus rating of “Hold” and an average price target of $197.25.

About CMC Materials

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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.

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