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

Cabot Co. (NYSE:CBT) CAO Lisa M. Dumont sold 865 shares of the firm’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 transaction, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Cabot Stock Performance

Shares of Cabot stock traded up $0.08 on Friday, reaching $109.26. The stock had a trading volume of 29,314 shares, compared to its average volume of 343,024. Cabot Co. has a fifty-two week low of $70.63 and a fifty-two week high of $117.46. The business’s 50-day moving average price is $109.97 and its two-hundred day moving average price is $102.03. 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 stock has a market cap of $5.99 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT) last released its earnings results 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. On average, sell-side analysts forecast that Cabot Co. will post 7.7 EPS for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Mizuho increased their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. downgraded 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 price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. One equities 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. increased its position in Cabot by 987.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,261 shares of the specialty chemicals company’s stock worth $476,000 after acquiring an additional 3,869 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Cabot during the 3rd quarter worth about $226,000. Eventide Asset Management LLC raised its position in shares of Cabot by 19.8% during the third quarter. Eventide Asset Management LLC now owns 122,820 shares of the specialty chemicals company’s stock valued at $13,728,000 after buying an additional 20,273 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Cabot by 47.1% in the third quarter. Verition Fund Management LLC now owns 6,911 shares of the specialty chemicals company’s stock valued at $772,000 after buying an additional 2,212 shares during the period. Finally, Captrust Financial Advisors grew its position in Cabot by 8.4% during the third quarter. Captrust Financial Advisors now owns 9,090 shares of the specialty chemicals company’s stock worth $1,016,000 after buying an additional 704 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

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.