Insider Selling: Cabot Co. (NYSE:CBT) CEO Sells 25,617 Shares of Stock

Cabot Co. (NYSE:CBT) CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cabot Stock Performance

Shares of NYSE CBT opened at $99.38 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. The firm has a market cap of $5.49 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.97 and a beta of 1.19. The stock’s fifty day moving average price is $97.17 and its two-hundred day moving average price is $95.03. Cabot Co. has a one year low of $65.10 and a one year high of $106.92.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted $1.42 earnings per share. Cabot’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.73%. Cabot’s payout ratio is 21.77%.

Institutional Investors Weigh In On Cabot

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 196 shares in the last quarter. CWM LLC increased its position in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares during the period. 1620 Investment Advisors Inc. acquired a new position in Cabot in the second quarter valued at about $49,000. Mather Group LLC. bought a new stake in Cabot during the second quarter worth about $58,000. Finally, nVerses Capital LLC acquired a new stake in Cabot during the second quarter worth about $64,000. 93.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CBT has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group cut their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.75.

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.