Covestor Ltd Has $93,000 Position in Cabot Co. (NYSE:CBT)

Covestor Ltd boosted its position in shares of Cabot Co. (NYSE:CBT) by 35.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 831 shares of the specialty chemicals company’s stock after purchasing an additional 218 shares during the period. Covestor Ltd’s holdings in Cabot were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CBT. Earnest Partners LLC raised its stake in shares of Cabot by 2.4% in the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after acquiring an additional 80,096 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cabot by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock valued at $123,965,000 after acquiring an additional 4,437 shares during the period. American Century Companies Inc. boosted its stake in Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after acquiring an additional 66,171 shares during the last quarter. Sei Investments Co. grew its holdings in Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after purchasing an additional 51,178 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Cabot by 1.8% in the second 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 in the last quarter. Institutional investors own 93.18% of the company’s stock.

Cabot Price Performance

CBT stock opened at $112.50 on Wednesday. The stock has a market cap of $6.17 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.98 and a beta of 1.20. The stock has a 50-day moving average price of $109.59 and a two-hundred day moving average price of $101.91. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.45 and a debt-to-equity ratio of 0.68.

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 analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities analysts forecast that Cabot Co. will post 7.7 EPS for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, November 29th. Cabot’s payout ratio is 25.52%.

Insider Activity at Cabot

In other news, EVP Jeff Ji Zhu sold 1,201 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares in the company, valued at approximately $6,204,579.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction dated 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 owns 96,000 shares of the company’s stock, valued at $10,194,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,665 shares of company stock valued at $4,986,299. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

CBT has been the topic of a number of recent analyst reports. UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Mizuho boosted their target price on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.00.

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.