Man Group plc Has $15.94 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

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Man Group plc grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 95.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 319,483 shares of the manufacturing equipment provider’s stock after acquiring an additional 155,717 shares during the period. Man Group plc’s holdings in Applied Materials were worth $15,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of AMAT. Price T Rowe Associates Inc. MD raised its holdings in Applied Materials by 34.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 28,351,337 shares of the manufacturing equipment provider’s stock valued at $1,273,259,000 after acquiring an additional 7,230,052 shares during the period. Invesco Ltd. lifted its position in Applied Materials by 72.2% during the second quarter. Invesco Ltd. now owns 25,611,081 shares of the manufacturing equipment provider’s stock worth $1,150,193,000 after acquiring an additional 10,735,173 shares during the last quarter. Davis Selected Advisers lifted its position in Applied Materials by 2.4% during the second quarter. Davis Selected Advisers now owns 15,880,737 shares of the manufacturing equipment provider’s stock worth $713,204,000 after acquiring an additional 364,769 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Applied Materials by 2,914.1% during the second quarter. Nuveen Asset Management LLC now owns 11,359,951 shares of the manufacturing equipment provider’s stock worth $510,176,000 after acquiring an additional 10,983,055 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Applied Materials by 49.4% during the second quarter. AQR Capital Management LLC now owns 8,459,335 shares of the manufacturing equipment provider’s stock worth $379,909,000 after acquiring an additional 2,797,005 shares during the period. 78.97% of the stock is currently owned by institutional investors.

Shares of AMAT stock opened at $56.70 on Tuesday. The business’s 50-day moving average price is $55.98 and its 200-day moving average price is $48.70. Applied Materials, Inc. has a 12 month low of $28.79 and a 12 month high of $63.07. The firm has a market capitalization of $53.49 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.87 and a beta of 1.65. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.04. Applied Materials had a return on equity of 35.13% and a net margin of 18.52%. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts predict that Applied Materials, Inc. will post 3.77 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 annualized dividend and a yield of 1.48%. Applied Materials’s dividend payout ratio is presently 27.63%.

In other Applied Materials news, CEO Gary E. Dickerson sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total value of $61,110,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis D. Powell sold 25,218 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,053,945 shares of company stock worth $63,936,685. 0.44% of the stock is owned by corporate insiders.

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on Applied Materials from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, August 16th. KeyCorp boosted their price target on Applied Materials from $54.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup boosted their price target on Applied Materials from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. DA Davidson upped their price objective on Applied Materials to $55.00 and gave the company a “positive” rating in a report on Friday, November 15th. Finally, Needham & Company LLC increased their price objective on Applied Materials from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the stock. Applied Materials has a consensus rating of “Buy” and a consensus target price of $62.43.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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