Cabot Co. (NYSE:CBT) EVP Sells $4,005,279.57 in Stock

Cabot Co. (NYSE:CBT) EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares in the company, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hobart Kalkstein also recently made the following trade(s):

• On Tuesday, August 20th, Hobart Kalkstein sold 5,457 shares of Cabot stock. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06.

Cabot Stock Down 0.3 %

NYSE:CBT opened at $108.81 on Friday. The business’s fifty day moving average price is $110.16 and its 200 day moving average price is $102.13. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.20. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business posted $1.65 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that Cabot Co. will post 7.7 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. Cabot’s dividend payout ratio (DPR) is currently 25.52%.

Institutional Investors Weigh In On Cabot

A number of hedge funds and other institutional investors have recently made changes to their positions in CBT. Eastern Bank raised its holdings in shares of Cabot by 577.1% during the 3rd quarter. Eastern Bank now owns 269,270 shares of the specialty chemicals company’s stock valued at $30,096,000 after purchasing an additional 229,500 shares in the last quarter. Fiera Capital Corp bought a new position in Cabot during the third quarter valued at about $19,643,000. Copeland Capital Management LLC lifted its position in shares of Cabot by 30.4% in the third quarter. Copeland Capital Management LLC now owns 626,253 shares of the specialty chemicals company’s stock worth $69,996,000 after buying an additional 146,179 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Cabot by 571.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock worth $11,681,000 after acquiring an additional 108,197 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Cabot by 22.9% during the 1st quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock valued at $48,081,000 after acquiring an additional 97,101 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CBT has been the topic of a number of recent analyst reports. Mizuho boosted their target price on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. UBS Group reduced their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Cabot has an average rating of “Hold” and an average price target of $105.00.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.