Cabot Co. (NYSE:CBT – Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,200,000 shares, a growth of 8.4% from the June 30th total of 2,030,000 shares. Based on an average daily volume of 325,600 shares, the short-interest ratio is currently 6.8 days. Currently, 4.0% of the company’s shares are sold short.
Insider Transactions at Cabot
In other news, SVP Karen A. Kalita sold 13,764 shares of Cabot stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $101.73, for a total value of $1,400,211.72. Following the completion of the transaction, the senior vice president now directly owns 34,312 shares of the company’s stock, valued at approximately $3,490,559.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.
Institutional Trading of Cabot
Hedge funds have recently bought and sold shares of the business. Raymond James & Associates increased its position in shares of Cabot by 0.5% during the 4th quarter. Raymond James & Associates now owns 42,103 shares of the specialty chemicals company’s stock valued at $3,516,000 after purchasing an additional 225 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Cabot by 10.1% in the fourth quarter. Pacer Advisors Inc. now owns 14,666 shares of the specialty chemicals company’s stock valued at $1,225,000 after buying an additional 1,342 shares during the period. Blue Trust Inc. boosted its holdings in Cabot by 33.4% in the 4th quarter. Blue Trust Inc. now owns 2,527 shares of the specialty chemicals company’s stock worth $211,000 after buying an additional 632 shares during the period. Fifth Third Bancorp grew its stake in Cabot by 5.4% in the 4th quarter. Fifth Third Bancorp now owns 24,179 shares of the specialty chemicals company’s stock valued at $2,019,000 after buying an additional 1,229 shares in the last quarter. Finally, Patten & Patten Inc. TN bought a new stake in Cabot during the 4th quarter valued at $215,000. 93.18% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Get Our Latest Analysis on CBT
Cabot Stock Down 0.0 %
CBT stock opened at $100.28 on Thursday. The stock’s 50 day moving average is $96.59 and its 200-day moving average is $90.76. Cabot has a twelve month low of $64.51 and a twelve month high of $103.49. The firm has a market capitalization of $5.54 billion, a PE ratio of 12.69, a P/E/G ratio of 0.99 and a beta of 1.20. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72.
Cabot (NYSE:CBT – Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.33 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Sell-side analysts expect that Cabot will post 6.78 EPS for the current fiscal year.
Cabot Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Friday, August 30th. Cabot’s dividend payout ratio is presently 21.77%.
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.
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