Insider Selling: Cabot Co. (NYSE:CBT) CFO Sells 16,390 Shares of Stock

Cabot Co. (NYSE:CBT) CFO Erica Mclaughlin sold 16,390 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $6,235,011.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Erica Mclaughlin also recently made the following trade(s):

• On Wednesday, August 7th, Erica Mclaughlin sold 23,274 shares of Cabot stock. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46.

Cabot Stock Performance

Shares of Cabot stock opened at $103.13 on Thursday. The business has a 50-day moving average of $96.09 and a 200 day moving average of $94.11. Cabot Co. has a 12 month low of $65.10 and a 12 month high of $106.92. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. 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 announced its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the business posted $1.42 EPS. Cabot’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently disclosed 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. This represents a $1.72 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, August 30th. Cabot’s payout ratio is presently 21.77%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group lowered their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Mizuho increased their price target on Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target on 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 Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three investment 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 price target of $101.75.

Hedge Funds Weigh In On Cabot

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Cabot by 143.1% in the 4th 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 period. CWM LLC boosted its stake in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 157 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Cabot by 81.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 207 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Cabot by 372.0% in the 4th 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 period. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Cabot in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

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.