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

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 completion of the sale, the executive vice president now directly owns 50,627 shares in the company, 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 can be accessed through the SEC website.

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 Price Performance

NYSE CBT opened at $109.20 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The firm’s 50 day moving average price is $109.97 and its 200-day moving average price is $102.03. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The company has a market cap of $5.99 billion, a PE ratio of 16.20, a P/E/G ratio of 0.96 and a beta of 1.20.

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

Cabot Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho increased their price objective on shares of 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. Finally, UBS Group reduced their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Cabot has a consensus rating of “Hold” and a consensus price target of $105.00.

Hedge Funds Weigh In On Cabot

Hedge funds and other institutional investors have recently modified their holdings of the business. Earnest Partners LLC boosted its stake in Cabot by 2.4% in the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock valued at $309,063,000 after acquiring an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cabot by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock valued at $123,965,000 after acquiring an additional 4,437 shares in the last quarter. American Century Companies Inc. boosted its stake in Cabot by 7.3% in the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after acquiring an additional 66,171 shares in the last quarter. Sei Investments Co. boosted its stake in Cabot by 5.9% in the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after acquiring an additional 51,178 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cabot by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock valued at $79,070,000 after acquiring an additional 19,215 shares in 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.