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

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

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 transaction of $548,865.06.

Cabot Stock Down 1.4 %

Shares of NYSE CBT traded down $1.59 during mid-day trading on Wednesday, hitting $110.95. The company had a trading volume of 515,461 shares, compared to its average volume of 344,463. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46. The company has a market capitalization of $6.08 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The business’s 50-day simple moving average is $109.59 and its 200 day simple moving average is $101.91.

Cabot (NYSE:CBT) last announced 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). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $1.65 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CBT shares. Mizuho raised 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. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a report on Monday. Finally, UBS Group cut their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.00.

Institutional Investors Weigh In On Cabot

Institutional investors have recently modified their holdings of the company. Algert Global LLC raised its stake in Cabot by 50.9% in the third quarter. Algert Global LLC now owns 43,712 shares of the specialty chemicals company’s stock valued at $4,886,000 after buying an additional 14,750 shares in the last quarter. Cerity Partners LLC boosted its holdings in Cabot by 32.2% in the third quarter. Cerity Partners LLC now owns 3,761 shares of the specialty chemicals company’s stock valued at $420,000 after purchasing an additional 915 shares in the last quarter. Citigroup Inc. raised its holdings in Cabot by 221.2% during the third quarter. Citigroup Inc. now owns 59,707 shares of the specialty chemicals company’s stock worth $6,673,000 after purchasing an additional 41,121 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Cabot by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock worth $79,070,000 after buying an additional 19,215 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Cabot by 251.7% during the 3rd quarter. Intech Investment Management LLC now owns 10,271 shares of the specialty chemicals company’s stock worth $1,148,000 after buying an additional 7,351 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other 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.