Cabot Co. (NYSE:CBT) EVP Sells $548,865.06 in Stock

Cabot Co. (NYSE:CBT) 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) 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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.65%. Cabot’s dividend payout ratio is presently 21.77%.

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.

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.