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

ProShare Advisors LLC decreased its holdings in shares of Cabot Co. (NYSE:CBT) by 20.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,672 shares of the specialty chemicals company’s stock after selling 2,762 shares during the period. ProShare Advisors LLC’s holdings in Cabot were worth $981,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Earnest Partners LLC boosted its stake 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 buying an additional 19,276 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Cabot by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock valued at $123,965,000 after purchasing an additional 4,437 shares during the period. American Century Companies Inc. increased its position in Cabot by 7.3% during the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after purchasing an additional 66,171 shares during the last quarter. Sei Investments Co. raised its stake in Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock worth $83,919,000 after purchasing an additional 51,178 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cabot by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock valued at $63,733,000 after purchasing an additional 11,986 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Cabot

In other Cabot news, EVP Jeff Ji Zhu sold 1,201 shares of the company’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 value of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the sale, the executive vice president now owns 61,688 shares in the company, valued at $6,204,579.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock worth $7,308,812 in the last 90 days. 3.07% of the stock is owned by corporate insiders.

Cabot Stock Down 0.7 %

NYSE CBT opened at $110.83 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $113.12. The business has a 50 day moving average price of $101.37 and a two-hundred day moving average price of $97.40. The stock has a market cap of $6.12 billion, a PE ratio of 14.03, a P/E/G ratio of 1.01 and a beta of 1.19.

Cabot (NYSE:CBT) last released its quarterly earnings results 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. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business earned $1.42 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts predict that Cabot Co. will post 7.07 EPS for the current fiscal year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, August 30th. Cabot’s dividend payout ratio is currently 21.77%.

Cabot 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.