Insider Selling: Cabot Co. (NYSE:CBT) EVP Sells $127,534.19 in Stock

Cabot Co. (NYSE:CBT) EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the sale, the executive vice president now directly owns 96,000 shares in the company, valued at approximately $10,194,240. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cabot Price Performance

Cabot stock opened at $105.11 on Friday. 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 Co. has a one year low of $65.10 and a one year high of $106.92. The firm has a market capitalization of $5.81 billion, a P/E ratio of 13.31, a PEG ratio of 0.96 and a beta of 1.20. The business has a fifty day moving average price of $96.45 and a 200-day moving average price of $94.34.

Cabot (NYSE:CBT) last issued its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS 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 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts forecast that Cabot Co. will post 6.78 EPS for the current year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, August 30th. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CBT. Handelsbanken Fonder AB raised its holdings in shares of Cabot by 97.7% in the 4th quarter. Handelsbanken Fonder AB now owns 9,309 shares of the specialty chemicals company’s stock valued at $777,000 after acquiring an additional 4,600 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Cabot by 2.3% in the fourth quarter. California Public Employees Retirement System now owns 96,712 shares of the specialty chemicals company’s stock worth $8,075,000 after purchasing an additional 2,206 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Cabot in the fourth quarter valued at approximately $44,000. Russell Investments Group Ltd. lifted its position in Cabot by 20.4% during the fourth quarter. Russell Investments Group Ltd. now owns 28,319 shares of the specialty chemicals company’s stock valued at $2,365,000 after purchasing an additional 4,801 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Cabot by 81.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 207 shares during the last quarter. 93.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Mizuho boosted their target price on Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. boosted their price objective on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group dropped their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, 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.