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 business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total value of $96,655.10. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Cabot Stock Down 1.6 %

Cabot stock traded down $1.75 during mid-day trading on Thursday, reaching $109.20. 340,441 shares of the company were exchanged, compared to its average volume of 344,444. The business has a fifty day moving average of $109.78 and a 200 day moving average of $101.98. 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 has a market cap of $5.99 billion, a P/E ratio of 16.20, a PEG ratio of 0.96 and a beta of 1.20. Cabot Co. has a 12-month low of $70.63 and a 12-month high of $117.46.

Cabot (NYSE:CBT) last issued its 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 firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $1.65 EPS. Research analysts anticipate that Cabot Co. will post 7.7 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The business 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 dividend of $0.43 per share. 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 Investors Weigh In On Cabot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC grew its position in Cabot by 19.8% during the 3rd quarter. Eventide Asset Management LLC now owns 122,820 shares of the specialty chemicals company’s stock worth $13,728,000 after purchasing an additional 20,273 shares during the period. Verition Fund Management LLC grew its position in shares of Cabot by 47.1% during the 3rd quarter. Verition Fund Management LLC now owns 6,911 shares of the specialty chemicals company’s stock valued at $772,000 after acquiring an additional 2,212 shares during the period. Captrust Financial Advisors grew its position in shares of Cabot by 8.4% during the 3rd quarter. Captrust Financial Advisors now owns 9,090 shares of the specialty chemicals company’s stock valued at $1,016,000 after acquiring an additional 704 shares during the period. Isthmus Partners LLC grew its position in shares of Cabot by 12.7% during the 3rd quarter. Isthmus Partners LLC now owns 3,885 shares of the specialty chemicals company’s stock valued at $434,000 after acquiring an additional 439 shares during the period. Finally, Bridgewater Associates LP grew its position in shares of Cabot by 11.3% during the 3rd quarter. Bridgewater Associates LP now owns 58,063 shares of the specialty chemicals company’s stock valued at $6,490,000 after acquiring an additional 5,881 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho upped their price objective on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. cut 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. Finally, UBS Group dropped their price objective 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 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.