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

Shell Asset Management Co. reduced its position in shares of CMC Materials, Inc. (NASDAQ:CCMPGet Rating) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Eaton Vance Management boosted its position in shares of CMC Materials by 2.3% during the fourth quarter. Eaton Vance Management now owns 3,031 shares of the semiconductor company’s stock worth $486,000 after buying an additional 68 shares during the period. First Horizon Advisors Inc. boosted its position in shares of CMC Materials by 72.0% during the fourth quarter. First Horizon Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $41,000 after buying an additional 90 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of CMC Materials by 51.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 329 shares of the semiconductor company’s stock worth $62,000 after buying an additional 112 shares during the period. Confluence Wealth Services Inc. acquired a new position in shares of CMC Materials during the fourth quarter worth about $37,000. Finally, Wolverine Asset Management LLC acquired a new position in CMC Materials during the fourth quarter valued at approximately $38,000. 93.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

CMC Materials Price Performance

NASDAQ:CCMP opened at $173.69 on Thursday. 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 stock’s 50 day moving average price is $175.31 and its two-hundred day moving average price is $179.04. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 45.47 and a beta of 1.09. CMC Materials, Inc. has a 12-month low of $119.19 and a 12-month high of $197.00.

CMC Materials (NASDAQ:CCMPGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The semiconductor company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.11. The firm had revenue of $324.13 million for the quarter, compared to analyst estimates of $312.90 million. CMC Materials had a return on equity of 23.55% and a net margin of 8.85%. During the same quarter in the prior year, the company earned $1.71 earnings per share. On average, analysts anticipate that CMC Materials, Inc. will post 7.55 earnings per share for the current year.

Insider Buying and Selling at CMC Materials

In other CMC Materials news, Director Susan M. Whitney sold 7,500 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 12,047 shares in the company, valued at $2,144,245.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

About CMC Materials

(Get Rating)

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

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