Insider Selling: Cabot Co. (NYSE:CBT) EVP Sells $1,649,599.50 in Stock

Cabot Co. (NYSE:CBT) EVP Jeff Ji Zhu sold 14,566 shares of Cabot stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total value of $1,649,599.50. Following the completion of the transaction, the executive vice president now owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. This represents a 17.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Jeff Ji Zhu also recently made the following trade(s):

• On Monday, August 26th, Jeff Ji Zhu sold 1,201 shares of Cabot stock. The shares were sold at an average price of $106.19, for a total value of $127,534.19.

Cabot Price Performance

NYSE:CBT opened at $108.81 on Friday. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The stock has a 50 day moving average of $110.16 and a two-hundred day moving average of $102.21. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm has a market cap of $5.96 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20.

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

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. First Citizens Bank & Trust Co. boosted its holdings in shares of Cabot by 2.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after purchasing an additional 109 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after purchasing an additional 117 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Cabot by 33.4% during the 2nd 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 last quarter. UMB Bank n.a. lifted its holdings in Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in 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 valued at $291,000 after acquiring an additional 132 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on CBT. Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. UBS Group cut their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.00.

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.