Banque Cantonale Vaudoise Cuts Stake in Cabot Co. (NYSE:CBT)

Banque Cantonale Vaudoise lessened its stake in shares of Cabot Co. (NYSE:CBT) by 35.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 573 shares of the specialty chemicals company’s stock after selling 309 shares during the period. Banque Cantonale Vaudoise’s holdings in Cabot were worth $64,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Earnest Partners LLC lifted its position in shares of Cabot by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock valued at $309,063,000 after buying an additional 80,096 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cabot by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after purchasing an additional 4,437 shares during the period. American Century Companies Inc. boosted its position in Cabot by 7.3% during the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after purchasing an additional 66,171 shares during the period. Sei Investments Co. increased its stake in shares of Cabot by 5.9% in the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock worth $83,919,000 after purchasing an additional 51,178 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Cabot by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock valued at $63,733,000 after purchasing an additional 11,986 shares during the period. Institutional investors own 93.18% of the company’s stock.

Cabot Price Performance

CBT stock opened at $110.36 on Friday. Cabot Co. has a one year low of $70.63 and a one year high of $117.46. The firm has a 50 day simple moving average of $110.81 and a two-hundred day simple moving average of $102.67. The stock has a market cap of $6.00 billion, a PE ratio of 16.37, a P/E/G ratio of 0.93 and a beta of 1.20. 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 (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. Cabot’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. On average, analysts predict that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Insider Transactions at Cabot

In other news, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the transaction, the chief accounting officer now owns 9,742 shares in the company, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the sale, the executive vice president now owns 50,627 shares of the company’s stock, valued at $5,833,749.21. This represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,398 shares of company stock worth $10,188,968. 3.07% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.