Cabot Co. (NYSE:CBT) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of Cabot Co. (NYSE:CBT) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,900 shares of the specialty chemicals company’s stock after selling 1,300 shares during the period. Swiss National Bank owned about 0.20% of Cabot worth $12,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CBT. Acadian Asset Management LLC raised its holdings in Cabot by 8.8% during the first quarter. Acadian Asset Management LLC now owns 2,464 shares of the specialty chemicals company’s stock worth $226,000 after purchasing an additional 199 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Cabot by 460.6% during the 1st quarter. Lazard Asset Management LLC now owns 2,007 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 1,649 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Cabot by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,375 shares of the specialty chemicals company’s stock worth $3,539,000 after buying an additional 1,788 shares in the last quarter. Tidal Investments LLC grew its stake in Cabot by 101.7% in the 1st quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after acquiring an additional 9,131 shares during the last quarter. Finally, Delphi Management Inc. MA increased its holdings in Cabot by 218.8% during the 1st quarter. Delphi Management Inc. MA now owns 17,201 shares of the specialty chemicals company’s stock valued at $1,586,000 after acquiring an additional 11,805 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cabot

In other news, CFO Erica Mclaughlin sold 16,390 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the completion of the sale, the chief financial officer now owns 59,814 shares in the company, valued at approximately $6,235,011.36. This trade represents a 21.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 $10,194,240. This trade represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 93,398 shares of company stock worth $10,188,968. Corporate insiders own 3.07% of the company’s stock.

Cabot Trading Up 1.6 %

NYSE CBT opened at $110.36 on Friday. The company has a market cap of $6.00 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.93 and a beta of 1.20. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The company has a 50-day moving average of $110.81 and a 200-day moving average of $102.67.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business earned $1.65 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities analysts predict that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently declared 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 is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. Cabot’s dividend payout ratio (DPR) is 25.52%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Mizuho lifted their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research note on Monday, November 11th. One 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. Based on data from MarketBeat.com, Cabot currently 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.