Cambrex Corporation (CBM) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its holdings in Cambrex Corporation (NYSE:CBM) by 32.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,285 shares of the biotechnology company’s stock after selling 16,646 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Cambrex Corporation worth $2,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Flinton Capital Management LLC raised its stake in Cambrex Corporation by 3.8% in the 1st quarter. Flinton Capital Management LLC now owns 1,870 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 68 shares during the period. Dubuque Bank & Trust Co. raised its stake in Cambrex Corporation by 3.3% in the 2nd quarter. Dubuque Bank & Trust Co. now owns 2,697 shares of the biotechnology company’s stock valued at $161,000 after acquiring an additional 87 shares during the period. Louisiana State Employees Retirement System raised its stake in Cambrex Corporation by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the biotechnology company’s stock valued at $795,000 after acquiring an additional 100 shares during the period. Arizona State Retirement System raised its stake in Cambrex Corporation by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 16,976 shares of the biotechnology company’s stock valued at $1,014,000 after acquiring an additional 100 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its stake in Cambrex Corporation by 1.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,080 shares of the biotechnology company’s stock valued at $500,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 98.28% of the company’s stock.

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Shares of Cambrex Corporation (NYSE CBM) opened at 51.05 on Wednesday. The company has a 50-day moving average price of $54.33 and a 200-day moving average price of $55.23. Cambrex Corporation has a 1-year low of $38.30 and a 1-year high of $62.95. The company has a market cap of $1.67 billion, a PE ratio of 18.60 and a beta of 2.25.

Cambrex Corporation (NYSE:CBM) last posted its quarterly earnings data on Friday, August 4th. The biotechnology company reported $0.76 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.76. Cambrex Corporation had a return on equity of 24.25% and a net margin of 17.70%. The business had revenue of $134.55 million for the quarter, compared to analysts’ expectations of $136.82 million. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. Equities research analysts expect that Cambrex Corporation will post $3.08 earnings per share for the current fiscal year.

In other Cambrex Corporation news, CEO Steven M. Klosk sold 12,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $61.39, for a total value of $736,680.00. Following the transaction, the chief executive officer now owns 95,328 shares of the company’s stock, valued at $5,852,185.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 36,000 shares of company stock worth $2,070,960. Insiders own 2.48% of the company’s stock.

A number of equities research analysts recently weighed in on CBM shares. Zacks Investment Research cut Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. ValuEngine cut Cambrex Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub cut Cambrex Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $64.00.

About Cambrex Corporation

Cambrex Corporation (Cambrex) is a life sciences company. It provides products and services for the development and commercialization of generic therapeutics. It operates through four segments, which are manufacturing facilities that have been aggregated as a single segment. Its manufacturing facilities are owned by the subsidiaries, including Cambrex Charles City, Inc, Cambrex Karlskoga AB and Cambrex Profarmaco Milano S.r.l.

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Institutional Ownership by Quarter for Cambrex Corporation (NYSE:CBM)

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