Crossmark Global Holdings Inc. Purchases 410 Shares of Cabot Co. (NYSE:CBT)

Crossmark Global Holdings Inc. increased its holdings in Cabot Co. (NYSE:CBT) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,965 shares of the specialty chemicals company’s stock after purchasing an additional 410 shares during the period. Crossmark Global Holdings Inc.’s holdings in Cabot were worth $443,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group reduced their price objective 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. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Monday, November 11th. Finally, Mizuho boosted their price objective on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $105.00.

Insider Activity at Cabot

In related news, EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the transaction, the executive vice president now owns 50,627 shares of the company’s stock, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the sale, the chief accounting officer now owns 9,742 shares of the company’s stock, valued at approximately $1,088,571.08. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,855 shares of company stock worth $10,737,833 over the last three months. 3.07% of the stock is owned by corporate insiders.

Cabot Price Performance

Cabot stock opened at $108.81 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The firm has a 50-day moving average of $110.16 and a two-hundred day moving average of $102.21. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly 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). The firm had revenue of $1 billion during 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 EPS. On average, research analysts forecast that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.58%. Cabot’s dividend payout ratio is currently 25.52%.

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.