Intech Investment Management LLC Boosts Holdings in Cabot Co. (NYSE:CBT)

Intech Investment Management LLC grew its position in shares of Cabot Co. (NYSE:CBT) by 251.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,271 shares of the specialty chemicals company’s stock after purchasing an additional 7,351 shares during the period. Intech Investment Management LLC’s holdings in Cabot were worth $1,148,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. grew its position in shares of Cabot by 2.1% during the third quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after buying an additional 109 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after buying an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 119 shares in the last quarter. UMB Bank n.a. grew its position in shares of Cabot by 53.9% during the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 130 shares in the last quarter. Finally, Miller Howard Investments Inc. NY grew its position 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 buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Stock Performance

CBT stock opened at $109.50 on Thursday. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46. The stock’s fifty day moving average is $111.04 and its two-hundred day moving average is $102.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.97 and a beta of 1.20.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Cabot’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, research analysts predict that Cabot Co. will post 7.67 EPS 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 paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Insider Activity at Cabot

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were 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 approximately $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares in the company, valued at approximately $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,807 shares of company stock worth $8,352,941 over the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBT. Mizuho raised 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. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a report on Monday, November 11th. Finally, UBS Group decreased their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. One investment 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 stock has a consensus rating of “Hold” and an average target price of $105.00.

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.