Insider Selling: Cabot Co. (NYSE:CBT) SVP Sells $1,400,211.72 in Stock

Cabot Co. (NYSE:CBT) SVP Karen A. Kalita sold 13,764 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $101.73, for a total value of $1,400,211.72. Following the completion of the transaction, the senior vice president now owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cabot Price Performance

Shares of CBT opened at $101.66 on Thursday. The company has a market cap of $5.62 billion, a P/E ratio of 12.87, a PEG ratio of 1.05 and a beta of 1.27. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $103.46. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average price is $93.15 and its 200 day moving average price is $83.30.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. On average, research analysts forecast that Cabot Co. will post 6.78 earnings per share for the current fiscal year.

Cabot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, May 31st. Cabot’s dividend payout ratio is presently 20.25%.

Institutional Trading of Cabot

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in shares of Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 196 shares during the last quarter. Arlington Trust Co LLC purchased a new position in Cabot in the fourth quarter valued at $34,000. Hexagon Capital Partners LLC raised its stake in Cabot by 81.8% in the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 207 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Cabot by 372.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 398 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Cabot during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group raised their price objective on Cabot from $100.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Mizuho lifted their price target on shares of Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lowered shares of Cabot from a “buy” rating to a “hold” rating and upped their price objective for the stock from $88.00 to $95.00 in a report on Thursday, April 18th. Finally, StockNews.com raised Cabot from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cabot has an average rating of “Moderate Buy” and an average price target of $93.67.

About Cabot

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.