GAMMA Investing LLC Buys 130 Shares of Cabot Co. (NYSE:CBT)

GAMMA Investing LLC raised its stake in Cabot Co. (NYSE:CBT) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,348 shares of the specialty chemicals company’s stock after buying an additional 130 shares during the period. GAMMA Investing LLC’s holdings in Cabot were worth $123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CBT. Wolff Wiese Magana LLC bought a new position in Cabot during the 3rd quarter worth approximately $25,000. UMB Bank n.a. raised its stake in 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 during the last quarter. Farther Finance Advisors LLC raised its stake in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 277 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 119 shares during the last quarter. Finally, CWM LLC grew its holdings 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 acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Activity at Cabot

In other news, 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 value of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares of the company’s stock, valued at approximately $5,833,749.21. The trade was a 40.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jeff Ji Zhu sold 14,566 shares of Cabot 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 transaction, the executive vice president now directly owns 69,449 shares in the company, valued at approximately $7,865,099.25. The trade was a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,190 shares of company stock valued at $5,751,534 over the last 90 days. 3.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CBT. Mizuho lowered their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cabot presently has an average rating of “Hold” and an average price target of $102.00.

Cabot Trading Down 1.3 %

Shares of CBT stock opened at $87.59 on Friday. The company has a 50 day moving average of $102.83 and a 200-day moving average of $102.39. Cabot Co. has a 12-month low of $70.63 and a 12-month high of $117.46. The firm has a market cap of $4.76 billion, a P/E ratio of 13.00, a PEG ratio of 0.90 and a beta of 1.21. 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 (NYSE:CBT) last announced its quarterly earnings results 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). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot announced that its Board of Directors has approved a share buyback plan on Tuesday, December 3rd that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.96%. Cabot’s dividend payout ratio is presently 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.