Chase Investment Counsel Corp Trims Holdings in Applied Materials, Inc. (AMAT)

Chase Investment Counsel Corp lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 18.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,748 shares of the manufacturing equipment provider’s stock after selling 16,619 shares during the quarter. Applied Materials accounts for about 2.0% of Chase Investment Counsel Corp’s holdings, making the stock its 23rd largest position. Chase Investment Counsel Corp’s holdings in Applied Materials were worth $3,737,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Bessemer Group Inc. lifted its position in shares of Applied Materials by 137.3% in the 3rd quarter. Bessemer Group Inc. now owns 7,278 shares of the manufacturing equipment provider’s stock worth $379,000 after acquiring an additional 4,211 shares during the period. Egerton Capital UK LLP lifted its position in shares of Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after acquiring an additional 3,184,994 shares during the period. Telemus Capital LLC lifted its position in shares of Applied Materials by 9.2% in the 3rd quarter. Telemus Capital LLC now owns 12,162 shares of the manufacturing equipment provider’s stock worth $634,000 after acquiring an additional 1,020 shares during the period. Swiss National Bank lifted its position in shares of Applied Materials by 0.4% in the 3rd quarter. Swiss National Bank now owns 3,962,722 shares of the manufacturing equipment provider’s stock worth $206,418,000 after acquiring an additional 17,400 shares during the period. Finally, Greenwood Capital Associates LLC bought a new stake in shares of Applied Materials in the 3rd quarter worth approximately $1,354,000. Institutional investors own 79.67% of the company’s stock.

In related news, Director Alexander Karsner sold 22,762 shares of Applied Materials stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of Applied Materials stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.

A number of analysts have commented on the company. B. Riley reiterated a “buy” rating and issued a $61.00 price objective on shares of Applied Materials in a research report on Saturday, August 19th. Instinet reiterated a “buy” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Applied Materials in a research report on Saturday, September 30th. Craig Hallum reiterated a “buy” rating and issued a $76.00 price objective (up previously from $60.00) on shares of Applied Materials in a research report on Thursday, September 28th. Stifel Nicolaus reiterated a “buy” rating on shares of Applied Materials in a research report on Sunday, October 1st. Finally, Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price objective for the company in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $56.64.

Applied Materials, Inc. (NASDAQ AMAT) traded up $0.43 during midday trading on Friday, hitting $55.91. The stock had a trading volume of 2,774,550 shares, compared to its average volume of 9,750,000. The firm has a market cap of $59,470.00, a PE ratio of 19.10, a P/E/G ratio of 0.90 and a beta of 1.85. Applied Materials, Inc. has a one year low of $28.10 and a one year high of $57.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.91 and a quick ratio of 2.25.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. equities research analysts forecast that Applied Materials, Inc. will post 3.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.72%. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.

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About Applied Materials

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

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