Nuance Investments buys $28,526,148 stake in Cabot Microelectronics Corporation (CCMP)

Cabot Microelectronics Corporation (CCMP) : Nuance Investments scooped up 475,875 additional shares in Cabot Microelectronics Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 569,953 shares of Cabot Microelectronics Corporation which is valued at $28,526,148.Cabot Microelectronics Corporation makes up approximately 2.96% of Nuance Investments’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp sold out all of its stake in CCMP during the most recent quarter. The investment firm sold 2,400 shares of CCMP which is valued $120,120.California State Teachers Retirement System reduced its stake in CCMP by selling 3,116 shares or 5.93% in the most recent quarter. The Hedge Fund company now holds 49,407 shares of CCMP which is valued at $2,472,820. Cabot Microelectronics Corporation makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Riverbridge Partners reduced its stake in CCMP by selling 45,964 shares or 5.35% in the most recent quarter. The Hedge Fund company now holds 813,230 shares of CCMP which is valued at $40,702,162. Cabot Microelectronics Corporation makes up approx 0.82% of Riverbridge Partners’s portfolio.Strs Ohio boosted its stake in CCMP in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 13,200 shares of Cabot Microelectronics Corporation which is valued at $619,476.

Cabot Microelectronics Corporation closed down -0.07 points or -0.14% at $50.1 with 1,89,716 shares getting traded on Monday. Post opening the session at $50.19, the shares hit an intraday low of $50.03 and an intraday high of $50.51 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Cabot Microelectronics Corporation reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.56. The company had revenue of $108.10 million for the quarter, compared to analysts expectations of $106.73 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.

Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry in a process called chemical mechanical planarization (CMP). The Company is into the development manufacture and sale of CMP consumables products. It also develops produces and sells CMP slurries for polishing many of the conducting insulating and isolating materials used in IC devices and also for polishing the disk substrates and magnetic heads used in hard disk drives. The Company also develops manufactures and sells CMP polishing pads which are used in conjunction with slurries in the CMP process.

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