Insider Selling: Roderick Macleod Sells 57,800 Shares of Cabot Corp Stock (CBT)
Cabot Corp (NYSE:CBT) Director Roderick Macleod sold 57,800 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $59.51, for a total transaction of $3,439,678.00. Following the completion of the sale, the director now directly owns 10,007 shares in the company, valued at approximately $595,517. The sale was disclosed in a document filed with the SEC, which is available at 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 assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $58.94.
Cabot Corp (NYSE:CBT) traded up 0.19% on Friday, hitting $59.18. 59,723 shares of the company’s stock traded hands. Cabot Corp has a 52-week low of $36.81 and a 52-week high of $61.46. The stock has a 50-day moving average of $57.84 and a 200-day moving average of $53.99. The company has a market cap of $3.816 billion and a P/E ratio of 17.42.
Cabot Corp (NYSE:CBT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the 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. Analysts expect that Cabot Corp will post $3.59 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders 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 1.49%. The ex-dividend date of this dividend is Wednesday, May 28th. This is a boost from Cabot Corp’s previous quarterly dividend of $0.20.
Cabot Corporation (NYSE:CBT) is a global specialty chemicals and performance materials company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.