MetLife Investment Management LLC Acquires 2,039 Shares of Universal Display Co. (NASDAQ:OLED)

MetLife Investment Management LLC grew its stake in shares of Universal Display Co. (NASDAQ:OLED - Free Report) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,961 shares of the semiconductor company's stock after purchasing an additional 2,039 shares during the period. MetLife Investment Management LLC owned about 0.05% of Universal Display worth $3,795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. boosted its position in shares of Universal Display by 280.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after buying an additional 154 shares during the period. Blue Trust Inc. boosted its position in Universal Display by 401.9% during the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock worth $38,000 after acquiring an additional 209 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Universal Display during the 4th quarter valued at about $40,000. Farther Finance Advisors LLC increased its holdings in shares of Universal Display by 761.1% in the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock valued at $45,000 after purchasing an additional 274 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of Universal Display by 185.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 357 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Stock Up 7.5 %

Shares of NASDAQ:OLED traded up $9.45 on Thursday, reaching $135.08. The company had a trading volume of 504,815 shares, compared to its average volume of 564,335. The stock has a market capitalization of $6.41 billion, a P/E ratio of 29.07, a P/E/G ratio of 1.61 and a beta of 1.42. The stock has a 50-day moving average price of $136.15 and a 200 day moving average price of $153.45. Universal Display Co. has a twelve month low of $103.70 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million during the quarter, compared to analyst estimates of $152.75 million. On average, sell-side analysts predict that Universal Display Co. will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio (DPR) is 38.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OLED shares. The Goldman Sachs Group dropped their price objective on shares of Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Oppenheimer dropped their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, January 2nd. StockNews.com cut Universal Display from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Needham & Company LLC dropped their target price on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Finally, Roth Mkm lifted their price target on Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Universal Display presently has an average rating of "Moderate Buy" and an average target price of $190.43.

About Universal Display

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.