Cabot Co. (NYSE:CBT – Get Free Report) EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the transaction, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Cabot Trading Up 2.7 %
Shares of NYSE CBT opened at $104.16 on Friday. Cabot Co. has a 1 year low of $65.10 and a 1 year high of $105.30. The stock has a market cap of $5.76 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The firm has a 50-day moving average of $95.70 and a 200 day moving average of $93.48. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47.
Cabot (NYSE:CBT – Get Free Report) last issued its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 earnings per share. As a group, sell-side analysts expect that Cabot Co. will post 6.78 EPS for the current fiscal year.
Cabot Dividend Announcement
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Mizuho upped their price objective on shares of Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. UBS Group dropped their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $101.75.
Get Our Latest Analysis on Cabot
Institutional Trading of Cabot
A number of large investors have recently made changes to their positions in CBT. EverSource Wealth Advisors LLC boosted its position in shares of Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of Cabot by 17.5% in the first quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 124 shares in the last quarter. Miller Howard Investments Inc. NY lifted its holdings in shares of Cabot by 4.4% in the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after buying an additional 132 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Cabot by 1.4% during the first quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after purchasing an additional 145 shares in the last quarter. Finally, CWM LLC raised its stake in Cabot by 60.6% during 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 in the last quarter. 93.18% of the stock is currently owned by institutional investors.
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.
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