Cabot Corp. (CBT) VP James Patrick Kelly Sells 2,500 Shares
Cabot Corp. (NYSE:CBT) VP James Patrick Kelly sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $52.95, for a total value of $132,375.00. Following the completion of the transaction, the vice president now directly owns 22,085 shares in the company, valued at approximately $1,169,400.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
James Patrick Kelly also recently made the following trade(s):
- On Thursday, July 28th, James Patrick Kelly sold 2,500 shares of Cabot Corp. stock. The shares were sold at an average price of $50.95, for a total value of $127,375.00.
- On Tuesday, July 12th, James Patrick Kelly sold 2,500 shares of Cabot Corp. stock. The stock was sold at an average price of $48.95, for a total transaction of $122,375.00.
Cabot Corp. (NYSE:CBT) opened at 52.41 on Friday. Cabot Corp. has a 12-month low of $32.68 and a 12-month high of $53.48. The stock’s 50 day moving average is $50.43 and its 200 day moving average is $48.08. The stock has a market capitalization of $3.27 billion, a PE ratio of 24.06 and a beta of 1.62.
Cabot Corp. (NYSE:CBT) last posted its earnings results on Wednesday, July 27th. The company reported $0.93 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.93. Cabot Corp. had a net margin of 5.68% and a return on equity of 13.91%. The firm had revenue of $621 million for the quarter, compared to analyst estimates of $611.73 million. During the same period in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Analysts forecast that Cabot Corp. will post $3.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, August 24th. Cabot Corp.’s payout ratio is 54.30%.
Several equities analysts have weighed in on the stock. SunTrust Banks Inc. cut shares of Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cabot Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. TheStreet cut shares of Cabot Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Jefferies Group reiterated a “buy” rating and set a $60.00 price objective on shares of Cabot Corp. in a research report on Tuesday, September 13th. Finally, Deutsche Bank AG lifted their price objective on shares of Cabot Corp. from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Friday, August 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.17.
Large investors have recently bought and sold shares of the company. Aperio Group LLC raised its stake in Cabot Corp. by 16.8% in the first quarter. Aperio Group LLC now owns 24,345 shares of the company’s stock worth $1,177,000 after buying an additional 3,499 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Cabot Corp. during the first quarter worth about $3,527,000. TIAA CREF Investment Management LLC increased its position in shares of Cabot Corp. by 6.3% in the first quarter. TIAA CREF Investment Management LLC now owns 346,220 shares of the company’s stock worth $16,733,000 after buying an additional 20,618 shares during the period. Teachers Advisors Inc. increased its position in shares of Cabot Corp. by 12.9% in the first quarter. Teachers Advisors Inc. now owns 321,382 shares of the company’s stock worth $15,532,000 after buying an additional 36,828 shares during the period. Finally, Algert Global LLC purchased a new position in shares of Cabot Corp. during the first quarter worth about $279,000. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
About Cabot Corp.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
Receive News & Stock Ratings for Cabot Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Corp. and related stocks with our FREE daily email newsletter.