Eastern Bank Sells 4,500 Shares of Entegris, Inc. $ENTG

Key Points

• Eastern Bank has significantly reduced its stake in Entegris, Inc., selling 4,500 shares and decreasing its ownership by 74.6% to hold only 1,533 shares worth $124,000.
• Entegris recently declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.5% and a payout ratio of 20.62%.
• Entegris has seen varied analyst ratings, with Mizuho raising its price target from $100 to $108, while several other firms have issued ratings between "hold" and "overweight."

Eastern Bank lowered its stake in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 74.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,533 shares of the semiconductor company's stock after selling 4,500 shares during the quarter. Eastern Bank's holdings in Entegris were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in ENTG. GAMMA Investing LLC boosted its stake in Entegris by 80.5% in the 1st quarter. GAMMA Investing LLC now owns 3,210 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 1,432 shares during the period. SG Americas Securities LLC bought a new position in Entegris in the 1st quarter worth about $805,000. James Hambro & Partners LLP boosted its stake in Entegris by 7.0% in the 1st quarter. James Hambro & Partners LLP now owns 786,491 shares of the semiconductor company's stock worth $68,885,000 after purchasing an additional 51,242 shares during the period. QRG Capital Management Inc. boosted its position in shares of Entegris by 29.9% during the 1st quarter. QRG Capital Management Inc. now owns 10,867 shares of the semiconductor company's stock valued at $951,000 after acquiring an additional 2,499 shares during the last quarter. Finally, Louisbourg Investments Inc. boosted its position in shares of Entegris by 45.4% during the 1st quarter. Louisbourg Investments Inc. now owns 31,640 shares of the semiconductor company's stock valued at $2,768,000 after acquiring an additional 9,875 shares during the last quarter.

Entegris Stock Performance

Shares of NASDAQ ENTG opened at $83.64 on Monday. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 43.11 and a beta of 1.38. The company has a current ratio of 3.30, a quick ratio of 1.95 and a debt-to-equity ratio of 1.04. Entegris, Inc. has a 1-year low of $60.75 and a 1-year high of $112.36. The stock's 50-day moving average is $85.54 and its 200 day moving average is $81.23.

Entegris (NASDAQ:ENTG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 6th. The semiconductor company reported $0.70 earnings per share for the quarter. The company had revenue of $512.84 million for the quarter. Entegris had a return on equity of 12.05% and a net margin of 9.17%. On average, sell-side analysts anticipate that Entegris, Inc. will post 3.51 EPS for the current fiscal year.

Entegris Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Wednesday, July 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, July 30th. Entegris's payout ratio is 20.62%.

Analyst Upgrades and Downgrades

ENTG has been the subject of a number of research analyst reports. Mizuho lifted their price target on Entegris from $100.00 to $108.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. Oppenheimer initiated coverage on Entegris in a research report on Thursday, September 4th. They set a "market perform" rating and a $95.00 price target for the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Entegris in a research report on Wednesday, October 8th. Wall Street Zen upgraded Entegris from a "sell" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, KeyCorp reiterated an "overweight" rating and set a $103.00 price target (down previously from $112.00) on shares of Entegris in a research report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $106.30.

Insider Buying and Selling

In other Entegris news, SVP Susan G. Rice sold 8,858 shares of Entegris stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $79.84, for a total value of $707,222.72. Following the transaction, the senior vice president directly owned 56,912 shares of the company's stock, valued at $4,543,854.08. The trade was a 13.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Clinton M. Haris sold 3,627 shares of Entegris stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $90.00, for a total value of $326,430.00. Following the completion of the transaction, the senior vice president directly owned 37,743 shares in the company, valued at $3,396,870. This trade represents a 8.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is owned by insiders.

Entegris Company Profile

Entegris, Inc develops, manufactures, and supplies microcontamination control products, specialty chemicals, and advanced materials handling solutions in North America, Taiwan, China, South Korea, Japan, Europe, and Southeast Asia. It operates in three segments: Materials Solutions (MS); Microcontamination Control (MC); and Advanced Materials Handling (AMH).

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