Point72 Hong Kong Ltd Takes $109,000 Position in Cabot Co. (NYSE:CBT)

Point72 Hong Kong Ltd acquired a new position in shares of Cabot Co. (NYSE:CBT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,189 shares of the specialty chemicals company’s stock, valued at approximately $109,000.

Several other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 119 shares in the last quarter. Banque Cantonale Vaudoise grew its position in shares of Cabot by 17.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock valued at $77,000 after purchasing an additional 124 shares in the last quarter. Miller Howard Investments Inc. NY increased its holdings in shares of Cabot by 4.4% in the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after purchasing an additional 132 shares during the period. Los Angeles Capital Management LLC boosted its stake in Cabot by 1.4% during the first quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after buying an additional 145 shares during the period. Finally, CWM LLC grew its position in Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 157 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Insider Activity

In related news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value 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 approximately $33,630,719.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the sale, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,939 shares of company stock valued at $7,308,812. Insiders own 3.07% of the company’s stock.

Cabot Stock Down 0.7 %

Shares of NYSE:CBT opened at $110.85 on Friday. Cabot Co. has a 12-month low of $65.10 and a 12-month high of $113.12. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The stock’s 50-day moving average price is $101.37 and its 200-day moving average price is $97.34. The stock has a market capitalization of $6.13 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.01 and a beta of 1.19.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $1.42 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Cabot Co. will post 7.07 earnings per share for the current 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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, August 30th. Cabot’s payout ratio is 21.77%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Finally, UBS Group dropped their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Cabot currently has a consensus 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.