Edgestream Partners L.P. Has $710,000 Stake in Cabot Co. (NYSE:CBT)

Edgestream Partners L.P. boosted its holdings in shares of Cabot Co. (NYSE:CBT) by 121.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,728 shares of the specialty chemicals company’s stock after buying an additional 4,234 shares during the period. Edgestream Partners L.P.’s holdings in Cabot were worth $710,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in 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 acquiring an additional 196 shares during the period. CWM LLC grew its stake in shares of Cabot by 60.6% in the 2nd 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. 1620 Investment Advisors Inc. acquired a new position in shares of Cabot in the 2nd quarter worth approximately $49,000. Mather Group LLC. bought a new position in shares of Cabot during the 2nd quarter worth approximately $58,000. Finally, nVerses Capital LLC acquired a new stake in Cabot in the 2nd quarter valued at $64,000. Institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling at Cabot

In other news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the sale, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at $10,194,240. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,939 shares of company stock worth $7,308,812. Insiders own 3.07% of the company’s stock.

Cabot Price Performance

Shares of CBT stock opened at $110.27 on Friday. The stock’s fifty day moving average is $100.14 and its 200-day moving average is $96.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. Cabot Co. has a 52 week low of $65.10 and a 52 week high of $111.64. The stock has a market capitalization of $6.09 billion, a PE ratio of 13.96, a PEG ratio of 0.94 and a beta of 1.19.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, beating 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 firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the company posted $1.42 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts expect that Cabot Co. will post 7.07 EPS for the current fiscal year.

Cabot Announces Dividend

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

Wall Street Analyst Weigh In

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

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.