Cabot Corp CEO Patrick M. Prevost Sells 15,000 Shares (CBT)
Cabot Corp (NYSE:CBT) CEO Patrick M. Prevost sold 15,000 shares of Cabot Corp stock on the open market in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $59.32, for a total transaction of $889,800.00. Following the transaction, the chief executive officer now directly owns 256,023 shares of the company’s stock, valued at approximately $15,187,284. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on CBT shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Cabot Corp in a research note on Thursday, May 8th. They now have a $63.00 price target on the stock, up previously from $52.00. Separately, analysts at Jefferies Group raised their price target on shares of Cabot Corp from $61.00 to $68.00 in a research note on Monday, May 5th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Cabot Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 22nd. They now have a $62.60 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Cabot Corp presently has a consensus rating of “Buy” and an average target price of $58.94.
Cabot Corp (NYSE:CBT) traded up 0.05% during mid-day trading on Monday, hitting $59.45. 218,468 shares of the company’s stock traded hands. Cabot Corp has a one year low of $36.81 and a one year high of $61.46. The stock has a 50-day moving average of $57.80 and a 200-day moving average of $53.63. The company has a market cap of $3.834 billion and a P/E ratio of 17.53.
Cabot Corp (NYSE:CBT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.83 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.85 by $0.02. The company had revenue of $898.00 million for the quarter, compared to the consensus estimate of $910.00 million. On average, analysts predict that Cabot Corp will post $3.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, May 28th. This is an increase from Cabot Corp’s previous quarterly dividend of $0.20.
Cabot Corporation (NYSE:CBT) is a global specialty chemicals and performance materials company.
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