Cabot Co. (NYSE:CBT) CAO Sells $96,655.10 in Stock

Cabot Co. (NYSE:CBT) CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the sale, the chief accounting officer now owns 9,742 shares of the company’s stock, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cabot Trading Down 0.3 %

Shares of CBT opened at $108.81 on Friday. Cabot Co. has a fifty-two week low of $70.63 and a fifty-two week high of $117.46. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.20. The firm has a 50 day moving average price of $110.16 and a 200-day moving average price of $102.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CBT. UBS Group lowered their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Mizuho raised their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. 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 issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.00.

Hedge Funds Weigh In On Cabot

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Cabot by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,283,686 shares of the specialty chemicals company’s stock worth $143,504,000 after purchasing an additional 22,719 shares during the last quarter. M&T Bank Corp boosted its position in Cabot by 0.4% during the 3rd quarter. M&T Bank Corp now owns 50,221 shares of the specialty chemicals company’s stock valued at $5,614,000 after buying an additional 213 shares during the period. Barclays PLC grew its holdings in Cabot by 103.9% in the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company’s stock worth $12,699,000 after acquiring an additional 57,907 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Cabot by 170.2% in the third quarter. Public Employees Retirement System of Ohio now owns 2,351 shares of the specialty chemicals company’s stock valued at $263,000 after acquiring an additional 1,481 shares during the period. Finally, MML Investors Services LLC raised its stake in shares of Cabot by 6.5% during the third quarter. MML Investors Services LLC now owns 6,358 shares of the specialty chemicals company’s stock valued at $711,000 after acquiring an additional 389 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.