James Patrick Kelly Sells 2,500 Shares of Cabot Corp. (CBT) Stock
Cabot Corp. (NYSE:CBT) VP James Patrick Kelly sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $52.95, for a total transaction of $132,375.00. Following the sale, the vice president now directly owns 22,085 shares of the company’s stock, valued at $1,169,400.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $127,375.00.
- On Tuesday, July 12th, James Patrick Kelly sold 2,500 shares of Cabot Corp. stock. The shares were sold at an average price of $48.95, for a total transaction of $122,375.00.
Shares of Cabot Corp. (NYSE:CBT) opened at 52.41 on Friday. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 24.06 and a beta of 1.62. The company has a 50-day moving average price of $50.43 and a 200-day moving average price of $48.08. Cabot Corp. has a 12 month low of $32.68 and a 12 month high of $53.48.
Cabot Corp. (NYSE:CBT) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $621 million for the quarter, compared to the consensus estimate of $611.73 million. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. Equities analysts forecast that Cabot Corp. will post $3.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.20 annualized dividend and a yield of 2.29%. Cabot Corp.’s dividend payout ratio is 54.30%.
A number of analysts have recently issued reports on CBT shares. Zacks Investment Research lowered shares of Cabot Corp. from a “hold” rating to a “sell” rating in a research report on Monday, August 1st. Deutsche Bank AG increased their price target on Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a report on Friday, August 12th. TheStreet upgraded Cabot Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Jefferies Group reiterated a “buy” rating and set a $60.00 price target on shares of Cabot Corp. in a report on Tuesday, September 13th. Finally, SunTrust Banks Inc. downgraded Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $53.17.
A number of hedge funds have recently modified their holdings of CBT. PNC Financial Services Group Inc. increased its stake in shares of Cabot Corp. by 14.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,636 shares of the company’s stock valued at $121,000 after buying an additional 333 shares in the last quarter. Citigroup Inc. boosted its position in Cabot Corp. by 45.9% in the second quarter. Citigroup Inc. now owns 2,707 shares of the company’s stock valued at $123,000 after buying an additional 852 shares during the last quarter. Acrospire Investment Management LLC boosted its position in Cabot Corp. by 93.3% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $132,000 after buying an additional 1,400 shares during the last quarter. Bank of Montreal Can purchased a new position in Cabot Corp. during the second quarter valued at $148,000. Finally, LS Investment Advisors LLC boosted its position in Cabot Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the company’s stock valued at $171,000 after buying an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
Cabot Corp. Company Profile
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.
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