Cabot Co. (NYSE:CBT) Holdings Lowered by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. cut its stake in Cabot Co. (NYSE:CBT) by 91.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392 shares of the specialty chemicals company’s stock after selling 4,055 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Cabot were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CBT. CWM LLC increased its position in shares of Cabot by 60.6% during 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. EverSource Wealth Advisors LLC boosted its stake in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in Cabot during the second quarter valued at about $49,000. Mather Group LLC. acquired a new position in Cabot during the second quarter worth about $58,000. Finally, nVerses Capital LLC bought a new stake in Cabot in the second quarter worth about $64,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Price Performance

Shares of NYSE:CBT opened at $111.77 on Tuesday. The company’s fifty day moving average is $101.65 and its two-hundred day moving average is $97.65. The company has a market cap of $6.18 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.01 and a beta of 1.19. Cabot Co. has a 12-month low of $65.10 and a 12-month high of $113.12. 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 announced its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $1.42 EPS. Equities analysts expect 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 was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, August 30th. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 approximately $10,194,240. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction 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 $5,968,839.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at approximately $10,194,240. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,939 shares of company stock worth $7,308,812. Corporate insiders own 3.07% of the company’s stock.

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.