Assetmark Inc. Has $644,000 Stake in Cabot Co. (NYSE:CBT)

Assetmark Inc. increased its holdings in Cabot Co. (NYSE:CBT - Free Report) by 20,489.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,765 shares of the specialty chemicals company's stock after buying an additional 5,737 shares during the period. Assetmark Inc.'s holdings in Cabot were worth $644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in CBT. Wolff Wiese Magana LLC purchased a new position in Cabot in the 3rd quarter worth $25,000. CWM LLC increased its stake in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 157 shares in the last quarter. UMB Bank n.a. increased its position in shares of 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 buying an additional 130 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of 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 lifted 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 valued at $48,000 after purchasing an additional 119 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CBT shares. UBS Group reduced their price objective on Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research note on Tuesday, August 6th. Mizuho raised their price objective on Cabot from $103.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 price target on the stock. in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued 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 Price Performance

Shares of NYSE:CBT traded down $0.37 during midday trading on Friday, hitting $108.81. 234,281 shares of the stock were exchanged, compared to its average volume of 343,947. Cabot Co. has a twelve month low of $70.63 and a twelve month high of $117.46. 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 50 day moving average price of $110.16 and a 200-day moving average price of $102.21. The stock has a market cap of $5.96 billion, a P/E ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted $1.65 EPS. The business's revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts forecast that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, November 29th. Cabot's dividend payout ratio is presently 25.52%.

Insider Buying and Selling

In other news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at $6,204,579.04. This represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa M. Dumont sold 865 shares of the company'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 completion of the transaction, the chief accounting officer now owns 9,742 shares in the company, valued at $1,088,571.08. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,855 shares of company stock worth $10,737,833 over the last ninety 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.