Cabot Co. (NYSE:CBT) Shares Sold by Fmr LLC

Fmr LLC lowered its stake in Cabot Co. (NYSE:CBT) by 32.4% during the third quarter, HoldingsChannel reports. The firm owned 2,266,172 shares of the specialty chemicals company’s stock after selling 1,084,382 shares during the quarter. Fmr LLC’s holdings in Cabot were worth $253,290,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Algert Global LLC boosted its stake in shares of Cabot by 50.9% in the third quarter. Algert Global LLC now owns 43,712 shares of the specialty chemicals company’s stock valued at $4,886,000 after buying an additional 14,750 shares in the last quarter. Cerity Partners LLC grew its holdings in Cabot by 32.2% during the 3rd quarter. Cerity Partners LLC now owns 3,761 shares of the specialty chemicals company’s stock valued at $420,000 after buying an additional 915 shares during the last quarter. Citigroup Inc. raised its stake in Cabot by 221.2% in the 3rd quarter. Citigroup Inc. now owns 59,707 shares of the specialty chemicals company’s stock valued at $6,673,000 after purchasing an additional 41,121 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cabot by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock valued at $79,070,000 after acquiring an additional 19,215 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in Cabot by 251.7% in the 3rd quarter. Intech Investment Management LLC now owns 10,271 shares of the specialty chemicals company’s stock worth $1,148,000 after buying an additional 7,351 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

CBT has been the subject of a number of research reports. Mizuho upped their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research report on Monday, November 11th. Finally, UBS Group decreased their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research 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. According to MarketBeat.com, Cabot currently has an average rating of “Hold” and a consensus target price of $105.00.

Cabot Stock Performance

NYSE:CBT opened at $109.62 on Monday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The firm’s 50-day moving average is $111.02 and its 200-day moving average is $102.97.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $1 billion during 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 was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 EPS. Equities research analysts anticipate 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. Stockholders of record on Friday, November 29th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Insider Transactions at Cabot

In other news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the sale, the chief accounting officer now owns 9,742 shares in the company, valued at $1,088,571.08. This represents a 8.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly 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. Insiders sold 75,807 shares of company stock valued at $8,352,941 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

About Cabot

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.