Insider Selling: 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 on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the sale, the chief accounting officer now owns 9,742 shares in the company, valued at $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cabot Price Performance

CBT opened at $108.81 on Friday. The firm has a 50-day moving average price of $110.16 and a 200-day moving average price of $102.21. Cabot Co. has a twelve month low of $70.63 and a twelve month high of $117.46. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.94 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 for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Equities analysts expect that Cabot Co. will post 7.7 EPS for the current year.

Cabot Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. Cabot’s dividend payout ratio (DPR) is 25.52%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CBT. First Citizens Bank & Trust Co. lifted its holdings in shares of Cabot by 2.1% in the third quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after buying an additional 109 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Cabot by 22.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after purchasing an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Cabot by 33.4% in 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. UMB Bank n.a. grew its position in shares of Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 130 shares in the last quarter. Finally, Miller Howard Investments Inc. NY grew its position in shares of Cabot by 4.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a report on Monday, November 11th. Mizuho increased their price objective on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $105.00.

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.