Brown Brothers Harriman & Co. Sells 187 Shares of Cabot Co. (NYSE:CBT)

Brown Brothers Harriman & Co. cut its holdings in Cabot Co. (NYSE:CBT) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,715 shares of the specialty chemicals company’s stock after selling 187 shares during the period. Brown Brothers Harriman & Co.’s holdings in Cabot were worth $5,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CBT. Earnest Partners LLC raised its holdings in Cabot by 0.6% in the 1st quarter. Earnest Partners LLC now owns 3,283,302 shares of the specialty chemicals company’s stock worth $302,720,000 after purchasing an additional 19,276 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cabot by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,313,254 shares of the specialty chemicals company’s stock valued at $109,664,000 after buying an additional 32,735 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after acquiring an additional 66,171 shares during the period. Sei Investments Co. increased its holdings in Cabot by 6.1% in the 1st quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock worth $79,484,000 after acquiring an additional 49,467 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cabot by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock worth $63,733,000 after acquiring an additional 11,986 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cabot news, 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 transaction of $127,534.19. Following the sale, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at $10,194,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the sale, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CBT. JPMorgan Chase & Co. increased their price objective on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. UBS Group cut their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.75.

Cabot Stock Performance

CBT opened at $105.41 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.94 and a beta of 1.19. The company has a fifty day moving average of $98.75 and a 200 day moving average of $96.03. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $106.92.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. As a group, sell-side analysts forecast that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.63%. Cabot’s dividend payout ratio (DPR) is 21.77%.

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.