Quantinno Capital Management LP Makes New Investment in Cabot Co. (NYSE:CBT)

Quantinno Capital Management LP acquired a new position in shares of Cabot Co. (NYSE:CBT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,578 shares of the specialty chemicals company’s stock, valued at approximately $288,000.

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

Insider Buying and Selling

In other news, EVP Jeff Ji Zhu sold 14,566 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was 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 directly owns 69,449 shares of the company’s stock, valued at $7,865,099.25. This trade represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total value of $96,655.10. Following the completion of the transaction, the chief accounting officer now owns 9,742 shares of the company’s stock, valued at approximately $1,088,571.08. This trade represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,190 shares of company stock valued at $5,751,534. 3.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CBT shares. JPMorgan Chase & Co. downgraded shares of 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. Mizuho lifted their target price on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Cabot has a consensus rating of “Hold” and an average target price of $105.00.

Cabot Stock Performance

CBT stock opened at $103.38 on Monday. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. The firm has a market cap of $5.62 billion, a PE ratio of 15.34, a P/E/G ratio of 0.90 and a beta of 1.18. The business has a 50 day moving average of $110.25 and a 200-day moving average of $103.33. Cabot Co. has a 12-month low of $70.63 and a 12-month high of $117.46.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. As a group, sell-side analysts expect that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot announced that its Board of Directors has authorized a stock buyback plan on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.66%. Cabot’s payout ratio is currently 25.52%.

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.