Insider Selling: CMC Materials, Inc. (NASDAQ:CCMP) Director Sells 6,625 Shares of Stock

CMC Materials, Inc. (NASDAQ:CCMP) Director Barbara A. Klein sold 6,625 shares of the firm’s stock in a transaction that occurred on Wednesday, November 25th. The stock was sold at an average price of $152.05, for a total value of $1,007,331.25. Following the completion of the sale, the director now directly owns 30,079 shares in the company, valued at approximately $4,573,511.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

NASDAQ:CCMP traded down $0.03 during mid-day trading on Monday, reaching $152.44. 2,557 shares of the stock were exchanged, compared to its average volume of 220,148. The company has a current ratio of 3.18, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average price of $150.92 and a 200 day moving average price of $146.54. CMC Materials, Inc. has a 1-year low of $85.26 and a 1-year high of $174.87. The firm has a market capitalization of $4.40 billion, a PE ratio of 31.57 and a beta of 1.23.

CMC Materials (NASDAQ:CCMP) last announced its quarterly earnings data on Monday, November 16th. The semiconductor company reported $1.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.23. CMC Materials had a net margin of 12.79% and a return on equity of 21.30%. The company had revenue of $274.21 million for the quarter, compared to analysts’ expectations of $283.35 million. On average, sell-side analysts forecast that CMC Materials, Inc. will post 7.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 6th. Stockholders of record on Monday, October 12th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Thursday, October 8th. CMC Materials’s dividend payout ratio is presently 23.56%.

CCMP has been the subject of several recent research reports. Loop Capital lowered their price target on shares of CMC Materials from $187.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, November 13th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of CMC Materials from a “neutral” rating to a “sell” rating and dropped their price target for the company from $175.00 to $140.00 in a research note on Friday, November 13th. Seaport Global Securities reiterated a “neutral” rating on shares of CMC Materials in a research report on Monday, November 16th. Zacks Investment Research cut CMC Materials from a “hold” rating to a “sell” rating in a research report on Wednesday, November 18th. Finally, Berenberg Bank assumed coverage on CMC Materials in a research note on Friday, September 11th. They issued a “hold” rating and a $155.00 price target for the company. Five analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. CMC Materials currently has an average rating of “Hold” and an average price target of $150.78.

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in shares of CMC Materials by 120.4% during the third quarter. First Horizon Advisors Inc. now owns 227 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 124 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in CMC Materials by 89.3% in the 3rd quarter. Harbor Investment Advisory LLC now owns 460 shares of the semiconductor company’s stock worth $66,000 after purchasing an additional 217 shares in the last quarter. First Bank & Trust raised its holdings in CMC Materials by 30.3% during the 2nd quarter. First Bank & Trust now owns 1,256 shares of the semiconductor company’s stock worth $175,000 after buying an additional 292 shares during the period. Personal CFO Solutions LLC purchased a new stake in CMC Materials during the second quarter valued at about $208,000. Finally, Keybank National Association OH acquired a new position in shares of CMC Materials in the second quarter worth about $209,000. Institutional investors and hedge funds own 89.59% of the company’s stock.

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 Materials segment. The Electronic Materials segment consists of CMP slurries and polishing pads businesses and KMG electronic chemicals business.

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