Hobart Kalkstein Sells 34,759 Shares of Cabot Co. (NYSE:CBT) Stock

Cabot Co. (NYSE:CBT) EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares in the company, valued at $5,833,749.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hobart Kalkstein also recently made the following trade(s):

• On Tuesday, August 20th, Hobart Kalkstein sold 5,457 shares of Cabot stock. The stock was sold at an average price of $100.58, for a total value of $548,865.06.

Cabot Stock Performance

Shares of NYSE:CBT opened at $110.92 on Thursday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.96 and a beta of 1.20. The firm’s 50-day moving average is $109.78 and its 200 day moving average is $101.98. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 earnings per share. Research analysts predict that Cabot Co. will post 7.7 EPS for the current year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, November 29th. Cabot’s payout ratio is 25.52%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CBT. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a report on Monday. Mizuho lifted their price objective on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $105.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CBT. Eastern Bank raised its stake in Cabot by 577.1% during the third quarter. Eastern Bank now owns 269,270 shares of the specialty chemicals company’s stock worth $30,096,000 after purchasing an additional 229,500 shares during the period. Fiera Capital Corp acquired a new position in shares of Cabot during the third quarter worth about $19,643,000. Copeland Capital Management LLC raised its position in shares of Cabot by 30.4% during the 3rd quarter. Copeland Capital Management LLC now owns 626,253 shares of the specialty chemicals company’s stock worth $69,996,000 after acquiring an additional 146,179 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Cabot by 571.9% during the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock worth $11,681,000 after purchasing an additional 108,197 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Cabot by 22.9% in the first quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock valued at $48,081,000 after purchasing an additional 97,101 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

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.