Cabot Co. (NYSE:CBT) Stake Cut by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in Cabot Co. (NYSE:CBT) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,764 shares of the specialty chemicals company’s stock after selling 821 shares during the quarter. Victory Capital Management Inc.’s holdings in Cabot were worth $1,762,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a report on Monday, November 11th. Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group decreased their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $105.00.

Cabot Price Performance

Shares of NYSE:CBT opened at $110.36 on Monday. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.93 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The stock’s 50 day moving average price is $110.81 and its 200 day moving average price is $102.68.

Cabot (NYSE:CBT) last released its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.65 earnings per share. Equities research analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Insider Activity at Cabot

In other news, EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 50,627 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeff Ji Zhu sold 14,566 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the completion of the transaction, the executive vice president now owns 69,449 shares in the company, valued at $7,865,099.25. The trade was a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,197 shares of company stock valued at $10,061,434. Insiders own 3.07% of the company’s stock.

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.