Cabot Co. (NYSE:CBT) Shares Sold by Baldwin Investment Management LLC

Baldwin Investment Management LLC lowered its stake in Cabot Co. (NYSE:CBT - Free Report) by 31.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,555 shares of the specialty chemicals company's stock after selling 5,629 shares during the quarter. Baldwin Investment Management LLC's holdings in Cabot were worth $1,403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CBT. Wolff Wiese Magana LLC purchased a new position in shares of Cabot during the third quarter worth $25,000. CWM LLC lifted its holdings in Cabot by 60.6% during the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 157 shares in the last quarter. UMB Bank n.a. boosted its holdings in 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 period. Farther Finance Advisors LLC grew its stake in Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock worth $47,000 after purchasing an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased 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 worth $48,000 after purchasing an additional 119 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CBT has been the subject of several analyst reports. UBS Group lowered their price target on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a report on Tuesday, August 6th. 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. Finally, JPMorgan Chase & Co. downgraded 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Cabot presently has a consensus rating of "Hold" and a consensus target price of $105.00.

Insider Activity at Cabot

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the stock in a transaction on Wednesday, November 13th. The stock was 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 approximately $1,088,571.08. This represents a 8.15 % 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, EVP Hobart Kalkstein sold 34,759 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the sale, the executive vice president now owns 50,627 shares in the company, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,807 shares of company stock worth $8,352,941 over the last 90 days. Company insiders own 3.07% of the company's stock.

Cabot Stock Down 2.6 %

CBT stock opened at $110.59 on Wednesday. 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 current ratio of 2.08 and a quick ratio of 1.36. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.97 and a beta of 1.20. The company has a fifty day moving average price of $110.97 and a 200 day moving average price of $102.76.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results 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). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $1.65 EPS. Cabot's quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts expect that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Dividend Announcement

The company 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 1.56%. Cabot's dividend payout ratio is currently 25.52%.

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.

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