Park Avenue Securities LLC Sells 118 Shares of Cabot Co. (NYSE:CBT)

Park Avenue Securities LLC decreased its position in Cabot Co. (NYSE:CBT) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,809 shares of the specialty chemicals company’s stock after selling 118 shares during the quarter. Park Avenue Securities LLC’s holdings in Cabot were worth $351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 196 shares in the last quarter. Arlington Trust Co LLC bought a new position in shares of Cabot in the fourth quarter valued at approximately $34,000. Hexagon Capital Partners LLC increased its position in shares of Cabot by 81.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 207 shares during the last quarter. SRS Capital Advisors Inc. lifted 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 acquiring an additional 398 shares during the period. Finally, GAMMA Investing LLC purchased a new position in Cabot in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CBT shares. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and raised their target price for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. UBS Group increased their target price on shares of Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Mizuho upped their price objective on Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $91.80.

Insider Buying and Selling at Cabot

In other news, SVP Karen A. Kalita sold 13,764 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 34,312 shares in the company, valued at approximately $3,490,559.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.07% of the stock is currently owned by company insiders.

Cabot Stock Down 1.5 %

Shares of NYSE:CBT opened at $91.89 on Monday. The firm has a fifty day moving average price of $98.00 and a two-hundred day moving average price of $88.76. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.91 and a beta of 1.26. 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 Co. has a one year low of $64.15 and a one year high of $103.49.

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

Cabot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.43 dividend. This is an increase from Cabot’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, May 31st. Cabot’s dividend payout ratio (DPR) is currently 21.77%.

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.