Victory Capital Management Inc. Reduces Stock Holdings in Cabot Co. (NYSE:CBT)

Victory Capital Management Inc. cut its position in shares of Cabot Co. (NYSE:CBT) by 69.4% during the second quarter, Holdings Channel.com reports. The firm owned 16,585 shares of the specialty chemicals company’s stock after selling 37,615 shares during the quarter. Victory Capital Management Inc.’s holdings in Cabot were worth $1,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its holdings in shares of Cabot by 17.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after buying an additional 124 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in Cabot by 4.4% during the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after acquiring an additional 132 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Cabot by 1.4% during the first quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock worth $1,000,000 after acquiring an additional 145 shares during the last quarter. CWM LLC raised its position in Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 196 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cabot

In other news, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $5,968,839.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. The disclosure for this sale can be found here. Insiders sold 71,939 shares of company stock valued at $7,308,812 in the last 90 days. Company insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. UBS Group dropped their price target 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cabot currently has an average rating of “Hold” and a consensus price target of $101.75.

Cabot Price Performance

CBT stock opened at $107.85 on Thursday. The business’s fifty day moving average price is $99.14 and its 200 day moving average price is $96.18. Cabot Co. has a 12-month low of $65.10 and a 12-month high of $110.98. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.96 billion, a PE ratio of 13.65, a P/E/G ratio of 0.94 and a beta of 1.19.

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

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a yield of 1.59%. Cabot’s dividend payout ratio (DPR) is presently 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.