Cabot Corp (CBT) reported quarterly earnings results on Wednesday, Jul-27-2016. The company reported $0.93 EPS for the quarter. Analysts had a consensus estimate of $0.93. The company posted revenue of $621.00 million in the period, compared to analysts expectations of $611.75 million. The company’s revenue was down -10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.
Cabot Corp opened for trading at $48.53 and hit $52.53 on the upside on Thursday, eventually ending the session at $51.59, with a gain of 6.44% or 3.12 points. The heightened volatility saw the trading volume jump to 12,05,788 shares. Company has a market cap of $3,219 M.
Investors should note that on Jul 8, 2016, Cabot Corp announced a cash dividend of $0.3000. The company’s management has announced Aug 24, 2016 as the ex-dividend date and fixed the record date on Aug 26, 2016. The payable date has been fixed on Sep 9, 2016.
In a different news, on Jul 14, 2016, James Patrick Kelly (Vice President and Controller) sold 2,500 shares at $48.95 per share price. According to the SEC, on Jun 6, 2016, Patrick M. Prevost (director) sold 60,000 shares at $46.30 per share price. On Feb 26, 2015, Ronaldo H Schmitz (director) sold 5,000 shares at $46.85 per share price, according to the Form-4 filing with the securities and exchange commission.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks fumed metal oxides activated carbon inkjet colorants aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials Performance Chemicals Purification Solutions and Specialty Fluids. The Reinforcement Materials segment includes rubber blacks products which are used in tires and industrial products. The Company’s Performance Chemicals consists of two businesses: Specialty Carbons and Formulations business and Metal Oxides business. The Purification Solutions segment includes activated carbon products which are used as either a colorant or a decolorizing agent in the production of products for food and beverage applications. The Company’s Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid.