Karen A. Kalita Sells 4,575 Shares of Cabot Co. (NYSE:CBT) Stock

Posted by on Jun 7th, 2022

Cabot Co. (NYSE:CBT – Get Rating) SVP Karen A. Kalita sold 4,575 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $78.13, for a total value of $357,444.75. Following the transaction, the senior vice president now owns 25,874 shares in the company, valued at $2,021,535.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

NYSE CBT traded down $0.45 on Tuesday, reaching $77.58. The stock had a trading volume of 489,509 shares, compared to its average volume of 466,218. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 34.27 and a beta of 1.36. The company has a quick ratio of 0.81, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. Cabot Co. has a 12-month low of $47.59 and a 12-month high of $78.62. The stock has a fifty day moving average price of $69.12 and a two-hundred day moving average price of $64.81.

Cabot (NYSE:CBT – Get Rating) last announced its earnings results on Monday, May 2nd. The specialty chemicals company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.29. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $918.99 million. Cabot had a return on equity of 29.91% and a net margin of 3.43%. During the same quarter in the previous year, the company earned $1.38 earnings per share. Sell-side analysts forecast that Cabot Co. will post 6.1 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 27th will be paid a $0.37 dividend. The ex-dividend date is Thursday, May 26th. This represents a $1.48 annualized dividend and a dividend yield of 1.91%. Cabot’s dividend payout ratio (DPR) is 65.78%.

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

Several large investors have recently bought and sold shares of CBT. Meeder Asset Management Inc. acquired a new position in shares of Cabot in the first quarter worth $28,000. Parkside Financial Bank & Trust grew its stake in shares of Cabot by 176.0% in the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 264 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Cabot in the first quarter worth $35,000. Catalyst Capital Advisors LLC acquired a new position in shares of Cabot in the first quarter worth $38,000. Finally, Pinebridge Investments L.P. acquired a new position in shares of Cabot in the fourth quarter worth $112,000. Institutional investors and hedge funds own 89.50% of the company’s stock.

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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