13,267 Shares in Cabot Co. (NYSE:CBT) Acquired by Jennison Associates LLC

Jennison Associates LLC bought a new stake in shares of Cabot Co. (NYSE:CBT) during the 3rd quarter, HoldingsChannel.com reports. The firm bought 13,267 shares of the specialty chemicals company’s stock, valued at approximately $1,483,000.

A number of other hedge funds also recently modified their holdings of the business. Chesapeake Capital Corp IL raised its position in Cabot by 27.6% during the third quarter. Chesapeake Capital Corp IL now owns 5,069 shares of the specialty chemicals company’s stock valued at $562,000 after buying an additional 1,097 shares during the period. Natixis Advisors LLC increased its holdings in shares of Cabot by 14.6% in the 3rd quarter. Natixis Advisors LLC now owns 116,011 shares of the specialty chemicals company’s stock valued at $12,967,000 after purchasing an additional 14,740 shares during the period. Oppenheimer Asset Management Inc. lifted its position in shares of Cabot by 2.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 43,484 shares of the specialty chemicals company’s stock worth $4,860,000 after purchasing an additional 1,244 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Cabot during the third quarter worth approximately $482,000. Finally, Entropy Technologies LP purchased a new stake in shares of Cabot during the 3rd quarter worth about $701,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CBT shares. Mizuho increased their price objective on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group lowered their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research report on Monday, November 11th. 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 stock. According to MarketBeat, Cabot has an average rating of “Hold” and a consensus price target of $105.00.

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the sale, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,398 shares of company stock worth $10,188,968 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Cabot Stock Performance

NYSE:CBT opened at $110.36 on Friday. The firm’s 50-day moving average is $110.81 and its 200-day moving average is $102.67. The company 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 quick ratio of 1.36 and a current ratio of 2.08. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Dividend Announcement

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

About Cabot

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.