Advisors Asset Management Inc. Has $794,000 Stake in Cabot Co. (NYSE:CBT)

Advisors Asset Management Inc. grew its holdings in shares of Cabot Co. (NYSE:CBT) by 37.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,103 shares of the specialty chemicals company’s stock after purchasing an additional 1,934 shares during the quarter. Advisors Asset Management Inc.’s holdings in Cabot were worth $794,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Earnest Partners LLC lifted its holdings in shares of Cabot by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after purchasing an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Cabot by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after buying an additional 4,437 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Cabot by 7.3% in the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after buying an additional 66,171 shares in the last quarter. Sei Investments Co. grew its holdings in shares of 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 buying an additional 51,178 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Cabot by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock worth $63,733,000 after acquiring an additional 11,986 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBT has been the topic of several recent research reports. UBS Group dropped 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 raised their target price on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report 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 for the company. in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $105.00.

Cabot Price Performance

Cabot stock opened at $110.59 on Wednesday. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46. The company’s 50 day moving average price is $110.97 and its two-hundred day moving average price is $102.76. The stock has a market cap of $6.01 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.94 and a beta of 1.20. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last issued its quarterly 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 for 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. On average, equities analysts predict that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Insiders Place Their Bets

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the business’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 directly owns 9,742 shares in the company, valued at $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The trade was a 7.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,807 shares of company stock valued at $8,352,941. Company insiders own 3.07% of the company’s stock.

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.