Kempner Capital Management Inc. Lowers Position in Applied Materials, Inc. (NASDAQ:AMAT)

Kempner Capital Management Inc. trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 40.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,713 shares of the manufacturing equipment provider’s stock after selling 66,900 shares during the quarter. Applied Materials comprises about 3.1% of Kempner Capital Management Inc.’s investment portfolio, making the stock its 13th biggest holding. Kempner Capital Management Inc.’s holdings in Applied Materials were worth $4,995,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Neuberger Berman Group LLC increased its stake in Applied Materials by 128.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 103,721 shares of the manufacturing equipment provider’s stock valued at $4,285,000 after purchasing an additional 58,370 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Applied Materials during the 2nd quarter valued at about $196,000. Schroder Investment Management Group increased its stake in Applied Materials by 201.9% during the 2nd quarter. Schroder Investment Management Group now owns 304,508 shares of the manufacturing equipment provider’s stock valued at $12,618,000 after purchasing an additional 203,655 shares in the last quarter. Dai Ichi Life Insurance Company Ltd increased its stake in Applied Materials by 99.1% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 173,467 shares of the manufacturing equipment provider’s stock valued at $7,166,000 after purchasing an additional 86,361 shares in the last quarter. Finally, Seven Eight Capital LP increased its stake in Applied Materials by 1,005.8% during the 2nd quarter. Seven Eight Capital LP now owns 140,836 shares of the manufacturing equipment provider’s stock valued at $5,818,000 after purchasing an additional 128,100 shares in the last quarter. Institutional investors own 79.77% of the company’s stock.

A number of analysts have recently issued reports on AMAT shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of Applied Materials in a report on Friday, October 27th. Bank of America raised their price objective on shares of Applied Materials from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, November 28th. Wells Fargo & Co assumed coverage on shares of Applied Materials in a report on Tuesday, December 5th. They issued an “outperform” rating and a $65.00 price objective on the stock. Finally, BidaskClub downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. One analyst has rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.54.

In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction on Friday, December 29th. The shares were sold at an average price of $51.47, for a total transaction of $6,440,183.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of Applied Materials stock in a transaction on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Insiders sold 312,716 shares of company stock worth $16,218,746 in the last 90 days. 0.31% of the stock is currently owned by company insiders.

Applied Materials, Inc. (NASDAQ:AMAT) traded up $1.05 during trading on Tuesday, hitting $54.50. 14,238,837 shares of the stock traded hands, compared to its average volume of 11,900,000. Applied Materials, Inc. has a 52-week low of $33.09 and a 52-week high of $60.89. The company has a market capitalization of $57,570.00, a PE ratio of 17.19, a P/E/G ratio of 1.05 and a beta of 1.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.43 and a current ratio of 3.14.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business posted $0.66 earnings per share. Applied Materials’s quarterly revenue was up 20.4% on a year-over-year basis. sell-side analysts expect that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Tuesday, February 20th. Applied Materials’s dividend payout ratio is presently 12.62%.

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Applied Materials Profile

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

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