Cabot Co. (NYSE:CBT) Stock Position Lifted by Covestor Ltd

Covestor Ltd raised its stake in Cabot Co. (NYSE:CBT) by 35.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 831 shares of the specialty chemicals company’s stock after buying an additional 218 shares during the quarter. Covestor Ltd’s holdings in Cabot were worth $93,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new position in shares of Cabot in the third quarter worth $25,000. CWM LLC increased its position in Cabot by 60.6% in 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. lifted its holdings 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 valued at $41,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its position in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake 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. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insider Activity at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Cabot news, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares of the company’s stock, valued at $10,194,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,665 shares of company stock worth $4,986,299. Company insiders own 3.07% of the company’s stock.

Cabot Price Performance

Shares of NYSE:CBT opened at $112.50 on Wednesday. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.98 and a beta of 1.20. The business has a 50 day moving average price of $109.59 and a 200 day moving average price of $101.91. The company has a quick ratio of 1.45, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. Cabot Co. has a twelve month low of $70.63 and a twelve month high of $117.46.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share 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 during the quarter, compared to the consensus estimate of $1.01 billion. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 earnings per share. Research analysts predict that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CBT. UBS Group reduced their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. 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. Finally, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Cabot presently has a consensus rating of “Hold” and a consensus target price of $105.00.

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.