Algert Global LLC Buys 14,750 Shares of Cabot Co. (NYSE:CBT)

Algert Global LLC boosted its position in shares of Cabot Co. (NYSE:CBT - Free Report) by 50.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,712 shares of the specialty chemicals company's stock after acquiring an additional 14,750 shares during the period. Algert Global LLC owned 0.08% of Cabot worth $4,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC purchased a new position in shares of Cabot in the third quarter valued at about $25,000. UMB Bank n.a. lifted its holdings in Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 130 shares in the last quarter. CWM LLC boosted its stake in Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 157 shares during the period. Farther Finance Advisors LLC grew its holdings in Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after buying an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 119 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CBT shares. UBS Group dropped their target price on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research report on Tuesday, August 6th. Mizuho increased their price objective on shares of Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 target price on the stock. in a report on Monday, November 11th. One 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 data from MarketBeat, the company has an average rating of "Hold" and an average target price of $105.00.

Insider Buying and Selling

In other news, CFO Erica Mclaughlin sold 16,390 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total transaction of $1,708,493.60. Following the transaction, the chief financial officer now owns 59,814 shares of the company's stock, valued at approximately $6,235,011.36. This represents a 21.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jeff Ji Zhu sold 14,566 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 69,449 shares of the company's stock, valued at $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,197 shares of company stock worth $10,061,434 over the last three months. 3.07% of the stock is owned by insiders.

Cabot Price Performance

CBT stock traded up $3.19 during trading on Monday, hitting $113.55. 492,457 shares of the company's stock traded hands, compared to its average volume of 345,493. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 0.94 and a beta of 1.20. The business has a fifty day simple moving average of $110.97 and a 200 day simple moving average of $102.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08.

Cabot (NYSE:CBT - Get Free Report) 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business posted $1.65 EPS. The firm's revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued 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 1.51%. Cabot's payout ratio is presently 25.52%.

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.