MetLife Investment Management LLC Sells 204 Shares of Universal Display Co. (NASDAQ:OLED)

MetLife Investment Management LLC decreased its position in shares of Universal Display Co. (NASDAQ:OLED) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,922 shares of the semiconductor company’s stock after selling 204 shares during the period. MetLife Investment Management LLC owned approximately 0.05% of Universal Display worth $5,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA raised its holdings in shares of Universal Display by 0.4% in the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after buying an additional 7,435 shares during the period. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Universal Display in the second quarter worth $127,668,000. Van ECK Associates Corp lifted its position in shares of Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after purchasing an additional 108,394 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after purchasing an additional 100,809 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Universal Display by 5.1% in the second quarter. Bank of New York Mellon Corp now owns 424,078 shares of the semiconductor company’s stock worth $89,162,000 after purchasing an additional 20,737 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Up 2.1 %

Universal Display stock opened at $164.52 on Monday. The firm has a market cap of $7.81 billion, a P/E ratio of 33.04, a P/E/G ratio of 1.76 and a beta of 1.43. The business has a fifty day moving average of $190.97 and a two-hundred day moving average of $195.29. Universal Display Co. has a twelve month low of $148.75 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. During the same period in the prior year, the business posted $1.08 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts expect that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.97%. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Analyst Ratings Changes

OLED has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. TD Cowen decreased their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Oppenheimer reduced their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $215.63.

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the transaction, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.90% of the stock is currently owned by corporate insiders.

Universal Display Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.