Assetmark Inc. Has $644,000 Stake in Cabot Co. (NYSE:CBT)

Assetmark Inc. boosted its holdings in Cabot Co. (NYSE:CBT) by 20,489.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,765 shares of the specialty chemicals company’s stock after purchasing an additional 5,737 shares during the period. Assetmark Inc.’s holdings in Cabot were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CBT. Fiera Capital Corp bought a new position in shares of Cabot in the 3rd quarter valued at about $19,643,000. Consolidated Planning Corp bought a new stake in shares of Cabot during the 3rd quarter worth about $458,000. Van ECK Associates Corp boosted its holdings in shares of Cabot by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 31,549 shares of the specialty chemicals company’s stock worth $3,445,000 after buying an additional 9,014 shares during the period. Harbor Capital Advisors Inc. raised its stake in Cabot by 48.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 33,444 shares of the specialty chemicals company’s stock worth $3,738,000 after purchasing an additional 10,852 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Insider Activity at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated 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. This trade represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the transaction, the executive vice president now directly owns 50,627 shares in the company, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,855 shares of company stock worth $10,737,833 in the last quarter. Company insiders own 3.07% of the company’s stock.

Cabot Trading Down 0.3 %

CBT opened at $108.81 on Friday. The company’s 50 day moving average price is $110.16 and its two-hundred day moving average price is $102.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. Cabot Co. has a fifty-two week low of $70.63 and a fifty-two week high of $117.46. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.58%. Cabot’s payout ratio is presently 25.52%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CBT shares. JPMorgan Chase & Co. cut shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Monday, November 11th. Mizuho lifted their price target on shares of Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group decreased their price target 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.00.

Cabot Company 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.