Charles Schwab Investment Management Inc. Buys 19,215 Shares of Cabot Co. (NYSE:CBT)

Charles Schwab Investment Management Inc. raised its stake in Cabot Co. (NYSE:CBT) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 707,433 shares of the specialty chemicals company’s stock after purchasing an additional 19,215 shares during the period. Charles Schwab Investment Management Inc. owned 1.29% of Cabot worth $79,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new position in shares of Cabot during the 3rd quarter worth approximately $25,000. CWM LLC grew its holdings in Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares during the last quarter. UMB Bank n.a. grew its holdings in Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Cabot by 33.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on CBT shares. UBS Group reduced their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. 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 report on Monday, November 11th. Finally, Mizuho lifted their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cabot currently has a consensus rating of “Hold” and a consensus target price of $105.00.

Insider Buying and Selling at Cabot

In other Cabot news, EVP Jeff Ji Zhu sold 14,566 shares of Cabot stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total value of $1,649,599.50. Following the completion of the transaction, the executive vice president now owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. The trade was a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the 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 sale, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. The trade was a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,807 shares of company stock valued at $8,352,941. 3.07% of the stock is owned by company insiders.

Cabot Stock Down 1.0 %

Cabot stock opened at $109.50 on Thursday. The business’s 50-day simple moving average is $111.04 and its two-hundred day simple moving average is $102.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The company has a market cap of $5.96 billion, a PE ratio of 16.25, a PEG ratio of 0.97 and a beta of 1.20. Cabot Co. has a fifty-two week low of $70.63 and a fifty-two week high of $117.46.

Cabot (NYSE:CBT) last posted its earnings results 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 business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Equities analysts anticipate that Cabot Co. will post 7.67 EPS for the current year.

Cabot Announces Dividend

The business 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. This represents a $1.72 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

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.