Cabot Co. (NYSE:CBT) Stake Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Cabot Co. (NYSE:CBT) by 251.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,271 shares of the specialty chemicals company’s stock after buying an additional 7,351 shares during the quarter. Intech Investment Management LLC’s holdings in Cabot were worth $1,148,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Wolff Wiese Magana LLC acquired a new position in shares of Cabot during the 3rd quarter worth approximately $25,000. CWM LLC increased its position in shares of Cabot by 60.6% during the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares during the last quarter. UMB Bank n.a. increased its position in shares of Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CBT. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research report on Monday, November 11th. UBS Group decreased their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Finally, Mizuho boosted their target price on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.00.

Cabot Price Performance

Shares of CBT opened at $109.50 on Thursday. Cabot Co. has a 12-month low of $70.63 and a 12-month high of $117.46. The business has a 50-day simple moving average of $111.04 and a two-hundred day simple moving average of $102.82. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. The stock has a market cap of $5.96 billion, a PE ratio of 16.37, a PEG ratio of 0.97 and a beta of 1.20.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $1.65 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.57%. Cabot’s payout ratio is 25.52%.

Insider Activity at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the transaction, the executive vice president now owns 50,627 shares in the company, valued at approximately $5,833,749.21. The trade was a 40.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,807 shares of company stock worth $8,352,941 in the last 90 days. Corporate insiders own 3.07% 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.