State of Alaska Department of Revenue Acquires 430 Shares of Cabot Co. (NYSE:CBT)

State of Alaska Department of Revenue increased its holdings in shares of Cabot Co. (NYSE:CBT) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,441 shares of the specialty chemicals company’s stock after acquiring an additional 430 shares during the period. State of Alaska Department of Revenue’s holdings in Cabot were worth $719,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. First Citizens Bank & Trust Co. raised its holdings in Cabot by 2.1% in the third quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after buying an additional 109 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares during the period. UMB Bank n.a. grew 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 buying an additional 130 shares during the period. Miller Howard Investments Inc. NY grew its position 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 valued at $291,000 after buying an additional 132 shares during the period. Finally, CWM LLC grew its position in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 148 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Price Performance

Cabot stock opened at $117.02 on Thursday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.91 and a beta of 1.20. The firm’s fifty day moving average is $108.41 and its 200 day moving average is $101.13. 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 52-week low of $68.11 and a 52-week high of $117.37.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Cabot Co. will post 7.07 EPS for the current fiscal year.

Insider Activity

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 transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,665 shares of company stock valued at $4,986,299. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CBT. 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. JPMorgan Chase & Co. upped their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Mizuho upped their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.00.

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.