Envestnet Portfolio Solutions Inc. Increases Stock Holdings in Cabot Co. (NYSE:CBT)

Envestnet Portfolio Solutions Inc. lifted its position in Cabot Co. (NYSE:CBT) by 17.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,882 shares of the specialty chemicals company’s stock after buying an additional 1,325 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cabot were worth $816,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Banque Cantonale Vaudoise increased its position in shares of Cabot by 17.5% in the first quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after purchasing an additional 124 shares during the last quarter. Los Angeles Capital Management LLC increased its position in Cabot by 1.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after purchasing an additional 145 shares during the period. CWM LLC increased its position in Cabot by 60.6% during the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Cabot by 143.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 196 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of Cabot by 8.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,464 shares of the specialty chemicals company’s stock valued at $226,000 after buying an additional 199 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the transaction, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.07% of the stock is currently owned by corporate insiders.

Cabot Price Performance

Shares of NYSE:CBT opened at $100.89 on Tuesday. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $103.57. The business has a 50-day simple moving average of $95.54 and a two-hundred day simple moving average of $92.95. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 2.24. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 EPS. On average, analysts expect that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, August 30th. Cabot’s dividend payout ratio is 21.77%.

Wall Street Analysts Forecast Growth

CBT has been the topic of a number of analyst reports. Mizuho upped their price target on shares of Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. 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 note on Tuesday, August 6th. StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $101.75.

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.