Morgan Stanley Has $4.39 Million Stake in CMC Materials, Inc. (NASDAQ:CCMP)

Morgan Stanley lifted its holdings in shares of CMC Materials, Inc. (NASDAQ:CCMP) by 31.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,778 shares of the semiconductor company’s stock after buying an additional 7,291 shares during the quarter. Morgan Stanley’s holdings in CMC Materials were worth $4,394,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. William Blair Investment Management LLC acquired a new position in CMC Materials during the third quarter valued at approximately $24,539,000. GW&K Investment Management LLC lifted its stake in CMC Materials by 350.3% in the third quarter. GW&K Investment Management LLC now owns 157,035 shares of the semiconductor company’s stock valued at $22,426,000 after buying an additional 122,159 shares in the last quarter. FMR LLC lifted 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 valued at $37,189,000 after buying an additional 82,081 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in CMC Materials by 27.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 288,147 shares of the semiconductor company’s stock valued at $41,151,000 after buying an additional 62,296 shares in the last quarter. Finally, Advisory Research Inc. bought a new position in CMC Materials in the third quarter valued at approximately $6,131,000. Hedge funds and other institutional investors own 89.59% of the company’s stock.

NASDAQ CCMP opened at $151.30 on Friday. 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 firm’s fifty day moving average price is $146.91 and its two-hundred day moving average price is $148.05. 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 P/E ratio of 31.33 and a beta of 1.17.

CMC Materials (NASDAQ:CCMP) last released its quarterly earnings data on Monday, November 16th. The semiconductor company reported $1.96 EPS for the quarter, beating 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 firm had revenue of $274.21 million for the quarter, compared to the consensus estimate of $283.35 million. On average, research analysts anticipate that CMC Materials, Inc. will post 7.63 EPS for the current fiscal year.

In related news, Director Barbara A. Klein sold 6,625 shares of the company’s stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $152.05, for a total value of $1,007,331.25. Following the transaction, the director now directly owns 30,079 shares in the company, valued at $4,573,511.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey Michael Dysard sold 1,370 shares of the company’s stock in a transaction dated Thursday, December 10th. The shares were sold at an average price of $146.67, for a total transaction of $200,937.90. Following the completion of the transaction, the vice president now owns 7,383 shares in the company, valued at $1,082,864.61. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

A number of research analysts have weighed in on CCMP shares. BidaskClub raised shares of CMC Materials from a “sell” rating to a “hold” rating in a research note on Thursday, October 8th. ValuEngine raised shares of CMC Materials from a “sell” rating to a “hold” rating in a research report on Monday, December 21st. Berenberg Bank assumed coverage on shares of CMC Materials in a research report on Friday, September 11th. They issued a “hold” rating and a $155.00 price objective on the stock. Seaport Global Securities reissued a “neutral” rating on shares of CMC Materials in a research report on Monday, November 16th. Finally, Loop Capital cut their price objective on shares of CMC Materials from $187.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, November 13th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $150.78.

CMC Materials Company Profile

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 through two segments, Electronic Materials and Performance Materials.

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

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