Quest Partners LLC Has $483,000 Stock Position in Cabot Co. (NYSE:CBT)

Quest Partners LLC reduced its holdings in shares of Cabot Co. (NYSE:CBT) by 83.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,321 shares of the specialty chemicals company’s stock after selling 22,578 shares during the period. Quest Partners LLC’s holdings in Cabot were worth $483,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in Cabot by 8.8% in the first quarter. Acadian Asset Management LLC now owns 2,464 shares of the specialty chemicals company’s stock valued at $226,000 after purchasing an additional 199 shares in the last quarter. Lazard Asset Management LLC lifted its position in Cabot by 460.6% during the 1st quarter. Lazard Asset Management LLC now owns 2,007 shares of the specialty chemicals company’s stock worth $185,000 after buying an additional 1,649 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Cabot by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,375 shares of the specialty chemicals company’s stock worth $3,539,000 after buying an additional 1,788 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Cabot by 101.7% in the 1st quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after acquiring an additional 9,131 shares in the last quarter. Finally, Delphi Management Inc. MA increased its position in shares of Cabot by 218.8% in the first quarter. Delphi Management Inc. MA now owns 17,201 shares of the specialty chemicals company’s stock valued at $1,586,000 after acquiring an additional 11,805 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cabot

In related news, CAO Lisa M. Dumont sold 865 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $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 accessible through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s 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 in the company, valued at approximately $33,630,719.70. This trade represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,398 shares of company stock worth $10,188,968 over the last quarter. Company insiders own 3.07% of the company’s stock.

Cabot Stock Performance

CBT opened at $110.36 on Friday. 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 Co. has a 12-month low of $70.63 and a 12-month high of $117.46. The business has a 50 day moving average of $110.81 and a 200-day moving average of $102.67. The stock 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.

Cabot (NYSE:CBT) last released its quarterly earnings data 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 company 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 company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. On average, equities research analysts expect 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. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 1.56%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CBT. UBS Group decreased their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. cut shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research note on Monday, November 11th. Finally, Mizuho upped their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.00.

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.