Cabot (NYSE:CBT) CEO Sells $9,072,486.08 in Stock

Key Points

• Sean D. Keohane, CEO of Cabot Corporation, sold 114,436 shares of the company's stock, totaling approximately $9.07 million, decreasing his ownership by 24.04%.
• Cabot Corporation reported $1.90 EPS for the last quarter, beating analysts' expectations, but fell short on revenue with $923 million against an expected $957.29 million.
• The company recently declared a quarterly dividend of $0.45 per share, equating to an annualized dividend of $1.80 and a yield of 2.3%.

Cabot Corporation (NYSE:CBT - Get Free Report) CEO Sean D. Keohane sold 114,436 shares of Cabot stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following the sale, the chief executive officer directly owned 361,518 shares in the company, valued at approximately $28,661,147.04. The trade was a 24.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cabot Trading Up 0.9%

Shares of CBT stock traded up $0.7350 during trading on Wednesday, hitting $80.1350. 12,104 shares of the stock traded hands, compared to its average volume of 426,191. The firm has a market capitalization of $4.26 billion, a P/E ratio of 10.48 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41. The firm's fifty day moving average price is $76.43 and its 200-day moving average price is $79.00. Cabot Corporation has a 52-week low of $70.40 and a 52-week high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.80 by $0.10. Cabot had a net margin of 11.14% and a return on equity of 25.68%. The firm had revenue of $923.00 million for the quarter, compared to analyst estimates of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. As a group, research analysts forecast that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Cabot's dividend payout ratio (DPR) is 23.53%.

Analyst Ratings Changes

A number of research firms have commented on CBT. Wall Street Zen cut Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group set a $82.00 price target on Cabot and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $92.33.

Institutional Trading of Cabot

A number of large investors have recently modified their holdings of CBT. Russell Investments Group Ltd. increased its position in shares of Cabot by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 33,459 shares of the specialty chemicals company's stock worth $3,055,000 after acquiring an additional 2,413 shares during the period. Bank of Montreal Can increased its holdings in Cabot by 6.3% in the fourth quarter. Bank of Montreal Can now owns 10,445 shares of the specialty chemicals company's stock valued at $954,000 after buying an additional 622 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Cabot by 197.7% in the fourth quarter. Renaissance Technologies LLC now owns 65,800 shares of the specialty chemicals company's stock valued at $6,008,000 after buying an additional 43,700 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Cabot in the fourth quarter valued at $5,057,000. Finally, Barclays PLC increased its holdings in Cabot by 38.1% in the fourth quarter. Barclays PLC now owns 156,908 shares of the specialty chemicals company's stock valued at $14,327,000 after buying an additional 43,294 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.