Cabot Co. (NYSE:CBT) EVP Nicholas S. Cross sold 15,370 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $60.99, for a total transaction of $937,416.30. Following the completion of the transaction, the executive vice president now directly owns 69,967 shares of the company’s stock, valued at approximately $4,267,287.33. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
CBT opened at $60.57 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.67 and a quick ratio of 1.07. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. Cabot Co. has a 12 month low of $50.56 and a 12 month high of $68.63.
Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, May 7th. The specialty chemicals company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $818.00 million during the quarter, compared to analysts’ expectations of $746.30 million. Cabot had a positive return on equity of 15.83% and a negative net margin of 6.14%. The firm’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. sell-side analysts forecast that Cabot Co. will post 4.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Friday, May 25th will be issued a $0.33 dividend. This is a boost from Cabot’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $1.32 annualized dividend and a yield of 2.18%. Cabot’s payout ratio is 36.73%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Adviser Investments LLC purchased a new stake in Cabot in the 1st quarter valued at about $115,000. Citizens Financial Group Inc RI purchased a new stake in shares of Cabot during the 4th quarter worth about $142,000. Trust Co. of Vermont grew its holdings in shares of Cabot by 104.4% during the 1st quarter. Trust Co. of Vermont now owns 2,995 shares of the specialty chemicals company’s stock worth $167,000 after purchasing an additional 1,530 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Cabot during the 4th quarter worth about $219,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Cabot during the 4th quarter worth about $221,000. Institutional investors own 85.95% of the company’s stock.
Several brokerages recently weighed in on CBT. Jefferies Group reissued a “buy” rating and issued a $78.00 target price on shares of Cabot in a research note on Thursday, February 8th. Northcoast Research set a $75.00 target price on shares of Cabot and gave the company a “buy” rating in a research note on Monday, February 12th. Zacks Investment Research raised shares of Cabot from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Friday, February 9th. ValuEngine raised shares of Cabot from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, TheStreet cut Cabot from a “b-” rating to a “c” rating in a report on Monday, May 7th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Cabot presently has an average rating of “Buy” and a consensus target price of $72.00.
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.
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