Oppenheimer Asset Management Inc. Buys 8,175 Shares of Cabot Co. (NYSE:CBT)

Oppenheimer Asset Management Inc. lifted its stake in shares of Cabot Co. (NYSE:CBT) by 24.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,240 shares of the specialty chemicals company’s stock after buying an additional 8,175 shares during the period. Oppenheimer Asset Management Inc. owned about 0.08% of Cabot worth $3,881,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Banque Cantonale Vaudoise grew its position in Cabot by 17.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after acquiring an additional 124 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of 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 worth $291,000 after purchasing an additional 132 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Cabot by 1.4% in the first quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after buying an additional 145 shares during the period. CWM LLC raised its holdings in Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 157 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Cabot by 143.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 196 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Insider Activity

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the transaction, the executive vice president now owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were 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 in the company, valued at $33,630,719.70. The disclosure for this sale can be found here. Insiders sold 71,939 shares of company stock worth $7,308,812 in the last quarter. 3.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CBT. UBS Group reduced their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their price objective on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.75.

Cabot Stock Up 0.6 %

Shares of NYSE CBT opened at $105.41 on Tuesday. The company’s 50 day moving average price is $98.75 and its 200-day moving average price is $96.03. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. Cabot Co. has a 52-week low of $65.10 and a 52-week high of $106.92. The company has a market capitalization of $5.82 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 earnings per share. Equities analysts forecast that Cabot Co. will post 7.07 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, August 30th. Cabot’s payout ratio is 21.77%.

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.