Cabot Co. (NYSE:CBT) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Cabot Co. (NYSE:CBT) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 307,861 shares of the specialty chemicals company’s stock after acquiring an additional 8,542 shares during the quarter. Envestnet Asset Management Inc. owned about 0.56% of Cabot worth $28,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise raised its holdings in shares of Cabot by 17.5% in the first quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 124 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in Cabot by 4.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after acquiring an additional 132 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Cabot by 1.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after purchasing an additional 145 shares during the last quarter. CWM LLC increased its holdings in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake 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 worth $28,000 after purchasing an additional 196 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Price Performance

NYSE:CBT opened at $110.27 on Friday. The company has a 50 day moving average price of $100.14 and a 200-day moving average price of $96.61. Cabot Co. has a 1-year low of $65.10 and a 1-year high of $111.64. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. 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 (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities research analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, August 30th. Cabot’s payout ratio is 21.77%.

Analyst Upgrades and Downgrades

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

Insider Activity at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Erica Mclaughlin sold 16,390 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the completion of the transaction, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at approximately $6,235,011.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,939 shares of company stock valued at $7,308,812. 3.07% of the stock is owned by company insiders.

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.