nVerses Capital LLC Takes Position in Cabot Co. (NYSE:CBT)

nVerses Capital LLC acquired a new position in Cabot Co. (NYSE:CBT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 700 shares of the specialty chemicals company’s stock, valued at approximately $64,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Cabot during the fourth quarter worth $41,471,000. Sei Investments Co. boosted its holdings in Cabot by 33.9% during the 4th quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock valued at $67,854,000 after acquiring an additional 205,582 shares during the period. Assenagon Asset Management S.A. grew its position in Cabot by 571.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after acquiring an additional 108,197 shares in the last quarter. Capital Research Global Investors increased its stake in Cabot by 22.9% during the first quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock worth $48,081,000 after purchasing an additional 97,101 shares during the period. Finally, Eventide Asset Management LLC purchased a new stake in Cabot during the fourth quarter worth about $6,919,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Buying and Selling at Cabot

In other news, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total value of $2,322,512.46. Following the transaction, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The disclosure for this sale can be found here. Insiders sold 71,939 shares of company stock worth $7,308,812 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CBT shares. JPMorgan Chase & Co. lifted their price objective on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group cut their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.75.

Cabot Stock Up 0.1 %

Shares of NYSE CBT opened at $101.29 on Thursday. The business has a 50-day moving average of $96.89 and a two-hundred day moving average of $94.87. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.97 and a beta of 1.20. Cabot Co. has a 1 year low of $65.10 and a 1 year high of $106.92. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45.

Cabot (NYSE:CBT) last posted its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. On average, analysts forecast that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 1.70%. Cabot’s dividend payout ratio 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.