Insider Selling: Cabot Co. (NYSE:CBT) CEO Sells 14,297 Shares of Stock

Cabot Co. (NYSE:CBTGet Rating) CEO Sean D. Keohane sold 14,297 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $69.15, for a total transaction of $988,637.55. Following the completion of the transaction, the chief executive officer now owns 265,718 shares of the company’s stock, valued at $18,374,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE CBT traded up $1.68 during trading hours on Thursday, hitting $72.39. The company’s stock had a trading volume of 424,281 shares, compared to its average volume of 458,987. Cabot Co. has a 12 month low of $47.59 and a 12 month high of $74.87. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 32.19 and a beta of 1.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.81 and a current ratio of 1.26. The business has a 50-day simple moving average of $68.19 and a 200-day simple moving average of $63.73.

Cabot (NYSE:CBTGet Rating) last released its quarterly earnings data on Monday, May 2nd. The specialty chemicals company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.29. Cabot had a return on equity of 29.91% and a net margin of 3.43%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $918.99 million. During the same quarter last year, the business posted $1.38 EPS. On average, equities research analysts forecast that Cabot Co. will post 6.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, May 26th. Cabot’s payout ratio is currently 65.78%.

A number of equities analysts have recently issued reports on CBT shares. Deutsche Bank Aktiengesellschaft upped their price objective on Cabot from $65.00 to $74.00 in a report on Tuesday, May 17th. Zacks Investment Research lowered Cabot from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a research note on Tuesday, April 5th. UBS Group lifted their price target on shares of Cabot from $71.00 to $85.00 in a research note on Wednesday, February 16th. StockNews.com raised shares of Cabot from a “hold” rating to a “buy” rating in a research note on Friday, May 13th. Finally, TheStreet upgraded shares of Cabot from a “c+” rating to a “b” rating in a research report on Monday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $75.00.

Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Cabot by 11.0% during the first quarter. BlackRock Inc. now owns 6,931,530 shares of the specialty chemicals company’s stock valued at $474,186,000 after buying an additional 686,769 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cabot by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 6,120,453 shares of the specialty chemicals company’s stock worth $418,701,000 after acquiring an additional 374,834 shares during the period. Wellington Management Group LLP raised its position in shares of Cabot by 11.1% in the 1st quarter. Wellington Management Group LLP now owns 3,541,491 shares of the specialty chemicals company’s stock worth $242,273,000 after acquiring an additional 353,154 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Cabot by 1.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 3,472,952 shares of the specialty chemicals company’s stock valued at $195,180,000 after purchasing an additional 43,804 shares during the period. Finally, Earnest Partners LLC boosted its position in shares of Cabot by 1.0% during the fourth quarter. Earnest Partners LLC now owns 3,086,614 shares of the specialty chemicals company’s stock valued at $173,468,000 after purchasing an additional 31,206 shares in the last quarter. 89.50% of the stock is owned by hedge funds and other institutional investors.

About Cabot (Get Rating)

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons 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.

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