Cabot Co. (NYSE:CBT) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Cabot Co. (NYSE:CBT - Free Report) by 13.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,334 shares of the specialty chemicals company's stock after buying an additional 41,554 shares during the quarter. JPMorgan Chase & Co. owned 0.65% of Cabot worth $39,716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC purchased a new stake in shares of Cabot during the third quarter worth approximately $25,000. UMB Bank n.a. grew its holdings in Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 130 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Cabot by 33.4% in the 2nd 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. Finally, CWM LLC lifted its position in shares of 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 purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Cabot Stock Performance

NYSE CBT traded up $0.31 during trading hours on Monday, hitting $88.81. The company had a trading volume of 246,085 shares, compared to its average volume of 272,061. The business has a 50 day moving average of $104.52 and a 200-day moving average of $102.70. The company has a market cap of $4.83 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. Cabot Co. has a 1-year low of $70.63 and a 1-year 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 results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. As a group, equities research analysts expect that Cabot Co. will post 7.67 EPS for the current year.

Cabot announced that its board has approved a stock repurchase plan on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.43 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.94%. Cabot's payout ratio is 25.52%.

Insider Transactions at Cabot

In other Cabot news, EVP Hobart Kalkstein sold 34,759 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of the firm's stock in a transaction on Wednesday, November 13th. The stock was 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 of the company's stock, valued at $1,088,571.08. This trade represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,190 shares of company stock worth $5,751,534. Company insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CBT. Mizuho raised their price target 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. lowered Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 target price on the stock. in a research 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 company's stock. According to MarketBeat.com, Cabot presently has an average rating of "Hold" and a consensus price target of $105.00.

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.