First Horizon Advisors Inc. Acquires 117 Shares of Cabot Co. (NYSE:CBT)

First Horizon Advisors Inc. lifted its holdings in shares of Cabot Co. (NYSE:CBT) by 22.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 650 shares of the specialty chemicals company’s stock after purchasing an additional 117 shares during the period. First Horizon Advisors Inc.’s holdings in Cabot were worth $73,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. increased its holdings in Cabot by 37.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,103 shares of the specialty chemicals company’s stock worth $794,000 after purchasing an additional 1,934 shares in the last quarter. Jennison Associates LLC bought a new stake in Cabot during the third quarter worth $1,483,000. Chesapeake Capital Corp IL grew its holdings in Cabot by 27.6% during the third quarter. Chesapeake Capital Corp IL now owns 5,069 shares of the specialty chemicals company’s stock worth $562,000 after buying an additional 1,097 shares in the last quarter. Natixis Advisors LLC lifted its stake in Cabot by 14.6% during the 3rd quarter. Natixis Advisors LLC now owns 116,011 shares of the specialty chemicals company’s stock valued at $12,967,000 after acquiring an additional 14,740 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Cabot by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 43,484 shares of the specialty chemicals company’s stock worth $4,860,000 after acquiring an additional 1,244 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

CBT has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research note on Monday, November 11th. Finally, Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $105.00.

Cabot Stock Up 1.6 %

CBT opened at $110.36 on Monday. 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 $6.00 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.93 and a beta of 1.20. The company’s 50-day moving average price is $110.81 and its two-hundred day moving average price is $102.68. Cabot Co. has a twelve month low of $70.63 and a twelve month high of $117.46.

Cabot (NYSE:CBT) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. As a group, equities analysts expect that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. Cabot’s dividend payout ratio is presently 25.52%.

Insider Transactions at Cabot

In other Cabot news, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were 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 directly owns 50,627 shares of the company’s stock, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the transaction, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,197 shares of company stock worth $10,061,434 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

About Cabot

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.