Sumitomo Life Insurance Co. Decreases Stock Holdings in Entegris, Inc. (NASDAQ:ENTG)

Sumitomo Life Insurance Co. reduced its position in shares of Entegris, Inc. (NASDAQ:ENTG) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,910 shares of the semiconductor company’s stock after selling 473 shares during the period. Sumitomo Life Insurance Co.’s holdings in Entegris were worth $1,068,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of Entegris by 2.4% during the 1st quarter. BlackRock Inc. now owns 16,294,681 shares of the semiconductor company’s stock worth $1,336,327,000 after purchasing an additional 386,767 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Entegris by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 14,452,886 shares of the semiconductor company’s stock worth $1,357,271,000 after purchasing an additional 107,989 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Entegris by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,672,981 shares of the semiconductor company’s stock worth $700,041,000 after purchasing an additional 748,491 shares during the last quarter. Sands Capital Management LLC lifted its position in shares of Entegris by 6.1% during the 2nd quarter. Sands Capital Management LLC now owns 9,329,123 shares of the semiconductor company’s stock worth $1,033,853,000 after purchasing an additional 536,532 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of Entegris by 0.4% during the 4th quarter. WCM Investment Management LLC now owns 5,173,163 shares of the semiconductor company’s stock worth $628,177,000 after purchasing an additional 22,249 shares during the last quarter.

Insider Buying and Selling

In related news, CAO Michael Sauer sold 1,897 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $132.54, for a total transaction of $251,428.38. Following the completion of the transaction, the chief accounting officer now directly owns 1,779 shares of the company’s stock, valued at $235,788.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Entegris news, SVP Susan G. Rice sold 17,518 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $135.86, for a total value of $2,379,995.48. Following the completion of the transaction, the senior vice president now directly owns 42,931 shares of the company’s stock, valued at $5,832,605.66. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Michael Sauer sold 1,897 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $132.54, for a total transaction of $251,428.38. Following the completion of the transaction, the chief accounting officer now directly owns 1,779 shares of the company’s stock, valued at $235,788.66. The disclosure for this sale can be found here. Insiders sold 41,082 shares of company stock valued at $5,606,849 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Entegris Price Performance

Shares of ENTG opened at $131.67 on Tuesday. Entegris, Inc. has a fifty-two week low of $69.37 and a fifty-two week high of $146.91. The company has a market capitalization of $19.85 billion, a price-to-earnings ratio of 110.65 and a beta of 1.32. The firm has a 50-day simple moving average of $135.65 and a 200-day simple moving average of $116.34. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.67 and a current ratio of 3.85.

Entegris (NASDAQ:ENTG) last announced its earnings results on Tuesday, February 13th. The semiconductor company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. Entegris had a net margin of 5.13% and a return on equity of 12.00%. The business had revenue of $812.30 million during the quarter, compared to the consensus estimate of $780.95 million. During the same quarter in the prior year, the firm earned $0.83 earnings per share. The business’s quarterly revenue was down 14.1% compared to the same quarter last year. On average, equities research analysts anticipate that Entegris, Inc. will post 3.31 earnings per share for the current year.

Entegris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Wednesday, January 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, January 30th. This represents a $0.40 annualized dividend and a yield of 0.30%. Entegris’s dividend payout ratio is currently 33.61%.

Wall Street Analyst Weigh In

ENTG has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Entegris in a research report on Thursday, March 7th. BMO Capital Markets upped their price objective on shares of Entegris from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. StockNews.com downgraded shares of Entegris from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd. Mizuho restated a “neutral” rating and issued a $140.00 price objective on shares of Entegris in a research note on Tuesday, February 20th. Finally, KeyCorp upped their price objective on shares of Entegris from $136.00 to $164.00 and gave the company an “overweight” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $141.64.

About Entegris

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).