Hobart Kalkstein Sells 5,457 Shares of Cabot Co. (NYSE:CBT) Stock

Cabot Co. (NYSE:CBT) EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cabot Stock Up 0.4 %

Cabot stock opened at $101.38 on Friday. Cabot Co. has a 1-year low of $65.10 and a 1-year high of $103.57. The business has a fifty day moving average price of $95.54 and a 200-day moving average price of $93.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.96 and a beta of 1.20.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.20. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $1.42 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Cabot Co. will post 6.78 EPS for the current fiscal year.

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.70%. The ex-dividend date is Friday, August 30th. Cabot’s dividend payout ratio is presently 21.77%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Cabot by 143.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 196 shares during the last quarter. CWM LLC increased its holdings in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Cabot by 81.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 207 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Cabot by 372.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 398 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Cabot in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

CBT has been the subject of a number of analyst reports. UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Mizuho raised their price objective on Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $101.75.

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.