Lisa M. Dumont Sells 865 Shares of Cabot Co. (NYSE:CBT) Stock

Cabot Co. (NYSE:CBT) CAO Lisa M. Dumont sold 865 shares of the company’s 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 in the company, valued at $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Cabot Price Performance

Cabot stock opened at $108.81 on Friday. The business has a 50-day simple moving average of $110.16 and a 200 day simple moving average of $102.13. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46. The stock 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 company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last posted its quarterly earnings data 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 net margin of 9.51% and a return on equity of 26.60%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last 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, research analysts forecast that Cabot Co. will post 7.7 earnings per share for the current fiscal year.

Cabot Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Earnest Partners LLC lifted its holdings in shares of Cabot by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after acquiring an additional 80,096 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 worth $123,965,000 after purchasing an additional 4,437 shares during the last quarter. American Century Companies Inc. boosted its position in Cabot by 7.3% during 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 buying an additional 66,171 shares during the period. Sei Investments Co. grew its stake in shares of Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after buying an additional 51,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $79,070,000 after buying an additional 19,215 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CBT has been the topic of several recent research reports. UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research note on Monday, November 11th. Finally, Mizuho raised their target price on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Cabot presently has an average rating of “Hold” and a consensus target price of $105.00.

About Cabot

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.