Insider Selling: Cabot Corp EVP Sells 3,493 Shares of Stock (CBT)
Cabot Corp (NYSE:CBT) EVP David A. Miller sold 3,493 shares of the company’s stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $53.67, for a total value of $187,469.31. Following the sale, the executive vice president now directly owns 28,609 shares in the company, valued at approximately $1,535,445. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Cabot Corp (NYSE:CBT) traded down 0.99% during mid-day trading on Monday, hitting $52.84. The stock had a trading volume of 338,766 shares. Cabot Corp has a 52-week low of $39.14 and a 52-week high of $61.46. The stock’s 50-day moving average is $56.50 and its 200-day moving average is $55.95. The company has a market cap of $3.412 billion and a P/E ratio of 16.23.
Cabot Corp (NYSE:CBT) last announced its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by $0.03. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $943.70 million. During the same quarter in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Cabot Corp will post $3.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, August 27th.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Cabot Corp from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 5th. They now have a $51.00 price target on the stock. Separately, analysts at Jefferies Group cut their price target on shares of Cabot Corp from $68.00 to $64.00 in a research note on Monday, August 4th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Cabot Corp in a research note on Friday, August 1st. They now have a $58.00 price target on the stock, down previously from $60.00. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Cabot Corp presently has a consensus rating of “Buy” and a consensus target price of $58.33.
Cabot Corporation (NYSE:CBT) is a global specialty chemicals and performance materials company.
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