Cabot Microelectronics Corp. (NASDAQ:CCMP)’s share price fell 4.2% on Monday . The stock traded as low as $49.79 and last traded at $50.40, with a volume of 235,595 shares trading hands. The stock had previously closed at $52.62.

Several brokerages have recently weighed in on CCMP. TheStreet upgraded Cabot Microelectronics Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, April 7th. Zacks Investment Research raised Cabot Microelectronics Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 25th.

The firm has a market capitalization of $1.20 billion and a P/E ratio of 23.87. The stock’s 50 day moving average is $45.05 and its 200-day moving average is $41.63.

Cabot Microelectronics Corp. (NASDAQ:CCMP) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.23. During the same period in the previous year, the business posted $0.46 EPS. The business earned $108.20 million during the quarter, compared to the consensus estimate of $106.73 million. The firm’s revenue was up 11.2% on a year-over-year basis. On average, equities research analysts expect that Cabot Microelectronics Corp. will post $2.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Thursday, June 23rd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.44%. The ex-dividend date was Tuesday, June 21st.

In other Cabot Microelectronics Corp. news, VP Lisa A. Polezoes sold 2,834 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The shares were sold at an average price of $43.27, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William P. Noglows sold 120,051 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $50.40, for a total transaction of $6,050,570.40. Following the completion of the sale, the director now directly owns 99,078 shares of the company’s stock, valued at approximately $4,993,531.20. The disclosure for this sale can be found here.

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

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