Inspire Investing LLC Sells 113 Shares of Cabot Co. (NYSE:CBT)

Inspire Investing LLC decreased its position in Cabot Co. (NYSE:CBT) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,791 shares of the specialty chemicals company’s stock after selling 113 shares during the quarter. Inspire Investing LLC’s holdings in Cabot were worth $348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MQS Management LLC bought a new stake in shares of Cabot in the 2nd quarter worth approximately $392,000. XTX Topco Ltd bought a new stake in Cabot in the second quarter worth $227,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Cabot by 5.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,371 shares of the specialty chemicals company’s stock worth $562,000 after acquiring an additional 353 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of Cabot by 0.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 42,185 shares of the specialty chemicals company’s stock valued at $3,876,000 after acquiring an additional 162 shares in the last quarter. Finally, Edgestream Partners L.P. raised its position in shares of Cabot by 121.2% in the 2nd quarter. Edgestream Partners L.P. now owns 7,728 shares of the specialty chemicals company’s stock worth $710,000 after purchasing an additional 4,234 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. UBS Group cut their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased 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, StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.75.

Insider Buying and Selling

In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the transaction, the executive vice president now directly owns 61,688 shares in the company, valued at $6,204,579.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cabot news, 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 sale, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Hobart Kalkstein sold 5,457 shares of Cabot stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the transaction, the executive vice president now directly owns 61,688 shares in the company, valued at approximately $6,204,579.04. The disclosure for this sale can be found here. Over 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 insiders.

Cabot Stock Performance

Shares of NYSE CBT opened at $110.22 on Wednesday. The firm’s 50-day moving average price is $100.60 and its 200-day moving average price is $97.00. Cabot Co. has a 52-week low of $65.10 and a 52-week high of $111.64. The company has a market cap of $6.09 billion, a PE ratio of 13.95, a PEG ratio of 0.94 and a beta of 1.19. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last issued 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. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $1.42 earnings per share. As a group, analysts anticipate that Cabot Co. will post 7.07 EPS for the current year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.43 dividend. 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 dividend payout ratio (DPR) is presently 21.77%.

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.