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

Cabot Co. (NYSE:CBT) EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $115.23, for a total value of $4,005,279.57. Following the transaction, the executive vice president now owns 50,627 shares in the company, valued at approximately $5,833,749.21. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 value of $548,865.06.

Cabot Stock Performance

NYSE:CBT traded down $1.59 during mid-day trading on Wednesday, hitting $110.95. The company’s stock had a trading volume of 515,461 shares, compared to its average volume of 344,463. The business’s fifty day moving average is $109.59 and its two-hundred day moving average is $101.91. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.96 and a beta of 1.20. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36.

Cabot (NYSE:CBT) last announced its quarterly earnings results 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). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. Analysts anticipate that Cabot Co. will post 7.7 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 1.55%. Cabot’s dividend payout ratio is presently 25.52%.

Analyst Ratings Changes

Several research firms have recently commented on CBT. Mizuho lifted their price objective 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. UBS Group dropped their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, 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 report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Cabot has an average rating of “Hold” and a consensus target price of $105.00.

Institutional Trading of Cabot

Several institutional investors have recently bought and sold shares of CBT. Algert Global LLC increased its stake in shares of Cabot by 50.9% during the third quarter. Algert Global LLC now owns 43,712 shares of the specialty chemicals company’s stock worth $4,886,000 after purchasing an additional 14,750 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Cabot by 32.2% during the third quarter. Cerity Partners LLC now owns 3,761 shares of the specialty chemicals company’s stock worth $420,000 after buying an additional 915 shares in the last quarter. Citigroup Inc. lifted its stake in Cabot by 221.2% in the 3rd quarter. Citigroup Inc. now owns 59,707 shares of the specialty chemicals company’s stock worth $6,673,000 after purchasing an additional 41,121 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cabot by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock worth $79,070,000 after purchasing an additional 19,215 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Cabot by 251.7% during the 3rd quarter. Intech Investment Management LLC now owns 10,271 shares of the specialty chemicals company’s stock worth $1,148,000 after acquiring an additional 7,351 shares during the period. 93.18% of the stock is 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.