Cabot Corporation (CBT) Insider Sells $207,206.59 in Stock
Cabot Corporation (NYSE:CBT) insider Hobart Kalkstein sold 3,881 shares of Cabot Corporation stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total value of $207,206.59. Following the completion of the sale, the insider now owns 27,736 shares in the company, valued at $1,480,825.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Cabot Corporation (NYSE CBT) traded up 0.66% during midday trading on Monday, hitting $53.65. The company had a trading volume of 144,347 shares. The stock has a 50 day moving average price of $52.55 and a 200 day moving average price of $54.85. The company has a market capitalization of $3.34 billion, a P/E ratio of 15.03 and a beta of 1.09. Cabot Corporation has a 52 week low of $47.99 and a 52 week high of $61.34.
Cabot Corporation (NYSE:CBT) last announced its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The firm had revenue of $705.00 million during the quarter, compared to the consensus estimate of $664.16 million. During the same period last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts forecast that Cabot Corporation will post $3.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.26 annualized dividend and a yield of 2.36%. Cabot Corporation’s dividend payout ratio (DPR) is currently 35.29%.
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Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in Cabot Corporation by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 1,890 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Cabot Corporation by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Cabot Corporation by 123.1% in the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock worth $173,000 after purchasing an additional 1,596 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Cabot Corporation in the second quarter worth approximately $155,000. Finally, Integrated Investment Consultants LLC grew its stake in Cabot Corporation by 66.1% in the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after purchasing an additional 1,233 shares in the last quarter. 84.28% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on CBT. BidaskClub lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research lowered Cabot Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. J P Morgan Chase & Co upgraded Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research report on Tuesday, August 15th. ValuEngine lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Aegis reiterated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $60.50.
Cabot Corporation Company Profile
Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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