Bridgewater Associates LP Buys 5,881 Shares of Cabot Co. (NYSE:CBT)

Bridgewater Associates LP raised its position in shares of Cabot Co. (NYSE:CBT - Free Report) by 11.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,063 shares of the specialty chemicals company's stock after acquiring an additional 5,881 shares during the period. Bridgewater Associates LP owned approximately 0.11% of Cabot worth $6,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CBT. Wolff Wiese Magana LLC bought a new stake in Cabot during the 3rd quarter valued at approximately $25,000. CWM LLC boosted its position in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 157 shares during the period. UMB Bank n.a. boosted 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 acquiring an additional 130 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock worth $47,000 after acquiring an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased 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 worth $48,000 after acquiring an additional 119 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now directly owns 331,174 shares of the company's stock, valued at $33,630,719.70. This trade represents a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction on 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 of the company's stock, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,807 shares of company stock valued at $8,352,941. 3.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of 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. UBS Group lowered their price target on Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 6th. Finally, Mizuho upped their price target on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Cabot has a consensus rating of "Hold" and an average price target of $105.00.

Cabot Price Performance

Shares of NYSE:CBT traded up $0.55 during midday trading on Friday, reaching $109.62. 223,914 shares of the company's stock were exchanged, compared to its average volume of 344,921. The firm has a market capitalization of $5.96 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The company's 50 day simple moving average is $111.02 and its two-hundred day simple moving average is $102.97. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. 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 released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research 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 will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid 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 1.57%. Cabot's dividend payout ratio is currently 25.52%.

Cabot 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.