Patrick M. Prevost Sells 6,151 Shares of Cabot Corp (CBT) Stock

Cabot Corp (NYSE:CBT) Director Patrick M. Prevost sold 6,151 shares of Cabot stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $64.09, for a total transaction of $394,217.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cabot stock traded up $0.74 during trading on Thursday, reaching $64.65. The stock had a trading volume of 15,470 shares, compared to its average volume of 496,226. Cabot Corp has a 52-week low of $50.56 and a 52-week high of $68.63. The company has a quick ratio of 1.07, a current ratio of 1.67 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.95 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.50 and a beta of 1.38.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, May 7th. The specialty chemicals company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Cabot had a negative net margin of 6.14% and a positive return on equity of 15.83%. The company had revenue of $818.00 million during the quarter, compared to the consensus estimate of $746.30 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. research analysts anticipate that Cabot Corp will post 4.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Investors of record on Friday, May 25th were paid a $0.33 dividend. The ex-dividend date was Thursday, May 24th. This represents a $1.32 dividend on an annualized basis and a yield of 2.04%. This is an increase from Cabot’s previous quarterly dividend of $0.32. Cabot’s payout ratio is currently 38.48%.

A number of research analysts recently weighed in on CBT shares. Robert W. Baird started coverage on shares of Cabot in a report on Tuesday, February 27th. They issued a “neutral” rating and a $72.00 price objective for the company. ValuEngine cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Zacks Investment Research downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research note on Monday, April 16th. Loop Capital set a $80.00 price target on shares of Cabot and gave the stock a “buy” rating in a research note on Monday, April 23rd. Finally, TheStreet downgraded shares of Cabot from a “b-” rating to a “c” rating in a research note on Monday, May 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $72.00.

A number of institutional investors have recently modified their holdings of CBT. Adviser Investments LLC purchased a new stake in shares of Cabot during the 1st quarter worth approximately $115,000. Citizens Financial Group Inc RI purchased a new stake in shares of Cabot during the 4th quarter worth approximately $142,000. Trust Co. of Vermont lifted its position 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 buying an additional 1,530 shares during the last quarter. TLP Group LLC lifted its position in shares of Cabot by 5,625.0% during the 1st quarter. TLP Group LLC now owns 3,664 shares of the specialty chemicals company’s stock worth $204,000 after buying an additional 3,600 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Cabot during the 4th quarter worth approximately $219,000. Institutional investors own 85.72% of the company’s stock.

Cabot Company Profile

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.

Insider Buying and Selling by Quarter for Cabot (NYSE:CBT)

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