Insider Selling: Cabot Co. (NYSE:CBT) EVP Sells 1,201 Shares of Stock

Cabot Co. (NYSE:CBT) EVP Jeff Ji Zhu sold 1,201 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares of the company’s stock, valued at $10,194,240. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cabot Trading Down 0.3 %

NYSE:CBT traded down $0.35 during mid-day trading on Wednesday, hitting $103.13. 199,047 shares of the company’s stock were exchanged, compared to its average volume of 335,331. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $106.92. The company has a current ratio of 2.24, a quick ratio of 1.47 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.70 billion, a P/E ratio of 13.05, a PEG ratio of 0.96 and a beta of 1.20. The company has a 50 day simple moving average of $95.98 and a 200-day simple moving average of $94.05.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts expect that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given 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 1.67%. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CBT shares. Mizuho increased their target price on shares of 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 objective on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Finally, UBS Group dropped 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Hedge Funds Weigh In On Cabot

A number of hedge funds have recently made changes to their positions in CBT. EverSource Wealth Advisors LLC increased its position in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 119 shares during the period. Banque Cantonale Vaudoise boosted its stake in shares of Cabot by 17.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 124 shares during the last quarter. Miller Howard Investments Inc. NY increased its position in shares of Cabot by 4.4% during 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 during the period. 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 worth $1,000,000 after buying an additional 145 shares during the last quarter. Finally, CWM LLC lifted its holdings in Cabot by 60.6% in the second 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. 93.18% of the stock is currently owned by institutional investors.

Cabot Company Profile

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.