Barclays PLC boosted its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 103.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,614 shares of the specialty chemicals company's stock after purchasing an additional 57,907 shares during the quarter. Barclays PLC owned about 0.21% of Cabot worth $12,699,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. lifted its stake in shares of Cabot by 2.1% in 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 during the last quarter. First Horizon Advisors Inc. lifted its position in Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company's stock worth $73,000 after acquiring an additional 117 shares during the last quarter. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 119 shares during the period. UMB Bank n.a. grew 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 purchasing an additional 130 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Cabot by 4.4% in the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company's stock worth $291,000 after purchasing an additional 132 shares during the period. Institutional investors and hedge funds own 93.18% of the company's stock.
Cabot Stock Performance
CBT stock traded down $1.41 during trading on Monday, reaching $101.97. 238,211 shares of the stock were exchanged, compared to its average volume of 345,388. 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 market capitalization of $5.55 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. The stock has a 50 day simple moving average of $110.07 and a 200-day simple moving average of $103.33.
Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. Cabot's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.65 EPS. As a group, sell-side analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current year.
Cabot Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, November 29th. Cabot's payout ratio is 25.52%.
Cabot declared that its board has approved a share buyback plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Mizuho increased their target price on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. cut Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 price objective for the company. in a research 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $105.00.
View Our Latest Stock Report on Cabot
Insider Activity at Cabot
In other Cabot news, EVP Jeff Ji Zhu sold 14,566 shares of the 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 $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lisa M. Dumont sold 865 shares of the business's stock in a transaction 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 sale, 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 a total of 50,190 shares of company stock valued at $5,751,534 over the last quarter. 3.07% of the stock is owned by company insiders.
Cabot Profile
(
Free Report)
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.
Featured Articles
Before you consider Cabot, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cabot wasn't on the list.
While Cabot currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
