Miller Howard Investments Inc. NY Purchases Shares of 3,030 Cabot Co. (NYSE:CBT)

Miller Howard Investments Inc. NY purchased a new stake in Cabot Co. (NYSE:CBT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,030 shares of the specialty chemicals company’s stock, valued at approximately $279,000.

A number of other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Cabot by 143.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 196 shares during the last quarter. Arlington Trust Co LLC acquired a new position in Cabot during the fourth quarter worth $34,000. Hexagon Capital Partners LLC increased its holdings in Cabot by 81.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 207 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Cabot by 372.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 398 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in Cabot during the fourth quarter worth $44,000. Institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling

In related news, SVP Karen A. Kalita sold 13,764 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $101.73, for a total transaction of $1,400,211.72. Following the completion of the sale, the senior vice president now owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.07% of the stock is currently owned by company insiders.

Cabot Price Performance

NYSE:CBT opened at $96.13 on Tuesday. The firm’s fifty day moving average price is $97.85 and its two-hundred day moving average price is $88.33. The company has a market cap of $5.31 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.95 and a beta of 1.26. Cabot Co. has a one year low of $63.73 and a one year high of $103.49. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47.

Cabot (NYSE:CBT) last announced its earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. Cabot’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 earnings per share. Equities analysts expect that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.43 per share. This is a boost from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.72 annualized dividend and a yield of 1.79%. Cabot’s dividend payout ratio is currently 21.77%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CBT shares. Mizuho boosted their target price on shares of Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft downgraded shares of Cabot from a “buy” rating to a “hold” rating and boosted their target price for the stock from $88.00 to $95.00 in a report on Thursday, April 18th. Finally, UBS Group upped their price objective on shares of Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $91.80.

Cabot 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.