First Horizon Advisors Inc. Buys 117 Shares of Cabot Co. (NYSE:CBT)

First Horizon Advisors Inc. lifted its stake in shares of Cabot Co. (NYSE:CBT) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 650 shares of the specialty chemicals company’s stock after acquiring an additional 117 shares during the period. First Horizon Advisors Inc.’s holdings in Cabot were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CBT. First Citizens Bank & Trust Co. boosted its position in Cabot by 2.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after acquiring an additional 109 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. UMB Bank n.a. grew its position in Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 130 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in Cabot by 4.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 132 shares during the last quarter. Finally, CWM LLC lifted its position in Cabot by 35.6% during the 3rd quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock worth $63,000 after buying an additional 148 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Monday, November 11th. UBS Group dropped their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Mizuho boosted their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.00.

Insiders Place Their Bets

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the firm’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 owns 9,742 shares of the company’s stock, valued at approximately $1,088,571.08. This trade represents a 8.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total value of $1,649,599.50. Following the transaction, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at $7,865,099.25. This trade represents a 17.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,197 shares of company stock worth $10,061,434 over the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Cabot Price Performance

Shares of CBT opened at $110.36 on Monday. The firm has a market capitalization of $6.00 billion, a PE 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 current ratio of 2.08 and a quick ratio of 1.36. The company’s 50-day moving average is $110.81 and its 200-day moving average is $102.68. Cabot Co. has a fifty-two week low of $70.63 and a fifty-two week high of $117.46.

Cabot (NYSE:CBT) last issued its quarterly earnings data 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). The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $1.65 earnings per share. Equities analysts forecast that Cabot Co. will post 7.67 EPS for the current year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 is 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.