Cabot Microelectronics Co. (CCMP) to Issue Dividend Increase – $0.42 Per Share

Cabot Microelectronics Co. (NASDAQ:CCMP) declared a quarterly dividend on Wednesday, March 6th, NASDAQ reports. Investors of record on Thursday, March 21st will be paid a dividend of 0.42 per share by the semiconductor company on Tuesday, April 30th. This represents a $1.68 annualized dividend and a yield of 1.53%. The ex-dividend date is Wednesday, March 20th. This is an increase from Cabot Microelectronics’s previous quarterly dividend of $0.40.

Cabot Microelectronics has a dividend payout ratio of 33.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cabot Microelectronics to earn $8.30 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 20.2%.

CCMP stock opened at $110.02 on Friday. Cabot Microelectronics has a 1-year low of $82.24 and a 1-year high of $123.76. The company has a debt-to-equity ratio of 1.03, a current ratio of 3.18 and a quick ratio of 2.34. The stock has a market capitalization of $3.24 billion, a PE ratio of 21.08 and a beta of 1.18.

Cabot Microelectronics (NASDAQ:CCMP) last posted its quarterly earnings data on Wednesday, February 6th. The semiconductor company reported $1.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.47. Cabot Microelectronics had a return on equity of 21.57% and a net margin of 18.83%. The firm had revenue of $221.80 million during the quarter, compared to analyst estimates of $217.90 million. During the same period last year, the company posted $1.19 EPS. The business’s quarterly revenue was up 58.5% on a year-over-year basis. Analysts expect that Cabot Microelectronics will post 7.07 earnings per share for the current year.

Several research analysts have recently weighed in on the company. BidaskClub raised Cabot Microelectronics from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Buckingham Research assumed coverage on Cabot Microelectronics in a research report on Thursday, November 29th. They issued a “buy” rating and a $130.00 price objective for the company. Loop Capital set a $123.00 price objective on Cabot Microelectronics and gave the stock a “buy” rating in a research report on Thursday, November 29th. Finally, Zacks Investment Research raised Cabot Microelectronics from a “hold” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research report on Thursday, February 21st. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $124.33.

In other news, VP Jeffrey Michael Dysard sold 3,133 shares of Cabot Microelectronics stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $104.88, for a total value of $328,589.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

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Cabot Microelectronics Company Profile

Cabot Microelectronics Corporation, together with its subsidiaries, develops, manufactures, and sells polishing slurries and pads used in the manufacture of advanced integrated circuit (IC) devices in the semiconductor industry in chemical mechanical planarization (CMP) process. It provides CMP slurries, which are liquid solutions composed of high-purity deionized water, proprietary chemical additives, and engineered abrasives that chemically and mechanically interact with the surface material of the IC device at an atomic level; and CMP pads that are engineered polymeric materials designed to distribute and transport the slurry to the surface of the wafer and distribute it evenly across the wafer.

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Dividend History for Cabot Microelectronics (NASDAQ:CCMP)

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