JPMorgan Chase & Co. Purchases 41,554 Shares of Cabot Co. (NYSE:CBT)

JPMorgan Chase & Co. increased its position in Cabot Co. (NYSE:CBT) by 13.2% in the 3rd quarter, Holdings Channel reports. The firm owned 355,334 shares of the specialty chemicals company’s stock after buying an additional 41,554 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cabot were worth $39,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new position in shares of Cabot during the 3rd quarter worth about $25,000. 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 acquiring an additional 130 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 277 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Cabot by 33.4% in the 2nd 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. Finally, CWM LLC increased its position in shares of 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 purchasing an additional 148 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Analyst Ratings Changes

CBT has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.00.

Cabot Trading Down 0.4 %

Shares of NYSE CBT opened at $88.50 on Monday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market cap of $4.81 billion, a PE ratio of 13.13, a P/E/G ratio of 0.90 and a beta of 1.18. The company has a 50-day moving average of $104.52 and a two-hundred day moving average of $102.70. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.94%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Cabot declared that its Board of Directors has authorized a stock buyback plan on Tuesday, December 3rd that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CAO Lisa M. Dumont sold 865 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the transaction, the chief accounting officer now directly owns 9,742 shares of the company’s stock, valued at $1,088,571.08. This trade represents a 8.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $1,649,599.50. Following the completion of the sale, the executive vice president now directly owns 69,449 shares in the company, valued at approximately $7,865,099.25. This represents a 17.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,190 shares of company stock valued at $5,751,534 in the last 90 days. 3.07% of the stock is owned by insiders.

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.