Entegris, Inc. (NASDAQ:ENTG) Stock Holdings Decreased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia has significantly reduced its holdings in Entegris, Inc. by 68.4%, owning 122,342 shares after selling 265,366 in the last quarter, with a current share value of approximately $10.7 million.
• Other institutional investors like Principal Financial Group and Deutsche Bank AG have notably increased their stakes in Entegris, evidencing varied investment strategies surrounding the stock.
• Several analysts have given mixed ratings on Entegris, with a consensus rating of "Moderate Buy" and a price target averaging around $106.44, indicating potential future growth in stock value.

Bank of Nova Scotia reduced its position in Entegris, Inc. (NASDAQ:ENTG - Free Report) by 68.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,342 shares of the semiconductor company's stock after selling 265,366 shares during the period. Bank of Nova Scotia owned about 0.08% of Entegris worth $10,702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Entegris by 235.8% in the first quarter. Principal Financial Group Inc. now owns 5,014,198 shares of the semiconductor company's stock worth $438,642,000 after acquiring an additional 3,520,997 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Entegris by 33.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,194,612 shares of the semiconductor company's stock worth $1,108,940,000 after acquiring an additional 2,826,463 shares in the last quarter. D1 Capital Partners L.P. grew its position in Entegris by 329.4% in the fourth quarter. D1 Capital Partners L.P. now owns 2,752,902 shares of the semiconductor company's stock worth $272,702,000 after acquiring an additional 2,111,801 shares in the last quarter. Deutsche Bank AG grew its position in Entegris by 434.1% in the fourth quarter. Deutsche Bank AG now owns 1,470,162 shares of the semiconductor company's stock worth $145,634,000 after acquiring an additional 1,194,903 shares in the last quarter. Finally, TPG GP A LLC bought a new stake in Entegris in the fourth quarter worth approximately $115,639,000.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Entegris in a research report on Thursday, July 10th. They issued a "neutral" rating and a $85.00 target price for the company. Wall Street Zen cut shares of Entegris from a "hold" rating to a "sell" rating in a research note on Saturday. UBS Group cut their target price on shares of Entegris from $95.00 to $90.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Needham & Company LLC restated a "buy" rating and issued a $100.00 price objective on shares of Entegris in a research note on Tuesday, May 20th. Finally, Citigroup dropped their target price on shares of Entegris from $125.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $106.44.

Entegris Trading Down 2.6%

Shares of Entegris stock opened at $73.68 on Tuesday. The stock has a market capitalization of $11.17 billion, a P/E ratio of 37.98 and a beta of 1.22. The company has a quick ratio of 1.95, a current ratio of 3.30 and a debt-to-equity ratio of 1.04. The company has a 50-day simple moving average of $81.47 and a 200 day simple moving average of $86.65. Entegris, Inc. has a 12-month low of $60.75 and a 12-month high of $119.95.

Entegris (NASDAQ:ENTG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.01. Entegris had a net margin of 9.17% and a return on equity of 12.05%. The firm had revenue of $792.40 million for the quarter, compared to analyst estimates of $753.85 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The company's revenue was down 2.5% on a year-over-year basis. Research analysts expect that Entegris, Inc. will post 3.51 earnings per share for the current fiscal year.

Entegris Announces Dividend

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

Insider Buying and Selling

In other news, SVP Clinton M. Haris sold 3,627 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $90.00, for a total value of $326,430.00. Following the transaction, the senior vice president owned 37,743 shares of the company's stock, valued at approximately $3,396,870. This trade represents a 8.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Entegris 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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