Insider Selling: Cabot Co. (NYSE:CBT) EVP Sells 34,759 Shares of Stock

Cabot Co. (NYSE:CBT) EVP Hobart Kalkstein sold 34,759 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 50,627 shares of the company’s stock, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Price Performance

Shares of NYSE:CBT opened at $108.81 on Friday. The business’s 50 day moving average is $110.16 and its 200-day moving average is $102.13. 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 capitalization of $5.96 billion, a PE ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.20. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. Sell-side analysts predict that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, November 29th. Cabot’s dividend payout ratio is 25.52%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CBT. Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lowered shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Monday, November 11th. Finally, UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Cabot has a consensus rating of “Hold” and a consensus target price of $105.00.

Institutional Investors Weigh In On Cabot

Several large investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC bought a new position in shares of Cabot during the 3rd quarter worth approximately $25,000. 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 worth $38,000 after acquiring an additional 157 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Cabot by 53.9% during 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 period. Farther Finance Advisors LLC boosted its stake in shares of Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Cabot by 33.4% in 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. 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.