Shares of Cabot Microelectronics Corp. (NASDAQ:CCMP) dropped 4.2% during trading on Monday . The company traded as low as $49.79 and last traded at $50.40, with a volume of 235,595 shares traded. The stock had previously closed at $52.62.

CCMP has been the subject of a number of research reports. Zacks Investment Research raised shares of Cabot Microelectronics Corp. from a “sell” rating to a “hold” rating in a research note on Monday, June 6th. TheStreet raised shares of Cabot Microelectronics Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th.

The stock’s 50 day moving average is $44.86 and its 200 day moving average is $41.56. The firm has a market capitalization of $1.20 billion and a P/E ratio of 23.86.

Cabot Microelectronics Corp. (NASDAQ:CCMP) last released its earnings results on Thursday, July 28th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.23. The company had revenue of $108.20 million for the quarter, compared to analysts’ expectations of $106.73 million. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS. Equities analysts expect that Cabot Microelectronics Corp. will post $2.47 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Thursday, June 23rd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, June 21st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%.

In other news, VP Lisa A. Polezoes sold 2,834 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $43.27, for a total transaction of $122,627.18. Following the completion of the sale, the vice president now owns 16,292 shares of the company’s stock, valued at $704,954.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds recently added to or reduced their stakes in CCMP. Nationwide Fund Advisors boosted its stake in Cabot Microelectronics Corp. by 52.6% in the fourth quarter. Nationwide Fund Advisors now owns 27,676 shares of the company’s stock worth $1,212,000 after buying an additional 9,539 shares in the last quarter. Rhumbline Advisers boosted its stake in Cabot Microelectronics Corp. by 8.8% in the fourth quarter. Rhumbline Advisers now owns 32,866 shares of the company’s stock worth $1,439,000 after buying an additional 2,650 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Cabot Microelectronics Corp. by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 166,088 shares of the company’s stock worth $7,272,000 after buying an additional 6,471 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Cabot Microelectronics Corp. by 318.5% in the fourth quarter. Schroder Investment Management Group now owns 480,040 shares of the company’s stock worth $21,016,000 after buying an additional 365,342 shares in the last quarter.

Cabot Microelectronics Corporation is a supplier of polishing slurries and a growing polishing pad supplier used in the manufacture of advanced integrated circuit (IC) devices within the semiconductor industry, in a process called chemical mechanical planarization (CMP). The Company is into the development, manufacture and sale of CMP consumables products.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.