Cabot Co. (NYSE:CBT) Short Interest Update

Cabot Co. (NYSE:CBT - Get Free Report) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,570,000 shares, an increase of 9.4% from the October 15th total of 2,350,000 shares. Approximately 4.8% of the company's stock are short sold. Based on an average daily trading volume, of 363,100 shares, the short-interest ratio is presently 7.1 days.

Cabot Stock Performance

Cabot stock traded down $0.37 during mid-day trading on Friday, hitting $108.81. 234,281 shares of the company's stock traded hands, compared to its average volume of 450,784. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. Cabot has a one year low of $70.63 and a one year high of $117.46. The firm has a 50 day moving average price of $110.16 and a 200 day moving average price of $102.21. The company has a market cap of $5.96 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) last posted 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 company had revenue of $1 billion during 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%. The business'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 company earned $1.65 EPS. On average, equities analysts forecast that Cabot will post 7.68 EPS for the current year.

Cabot Dividend Announcement

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 given a $0.43 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. Cabot's dividend payout ratio (DPR) is 25.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CBT. UBS Group cut their price target on Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, August 6th. Mizuho raised 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. Finally, JPMorgan Chase & Co. lowered shares of Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 price target for the company. in a research report on Monday, November 11th. One 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $105.00.

Insider Buying and Selling

In other news, CEO Sean D. Keohane sold 25,617 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. This trade represents a 7.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Erica Mclaughlin sold 16,390 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $104.24, for a total transaction of $1,708,493.60. Following the sale, the chief financial officer now directly owns 59,814 shares of the company's stock, valued at approximately $6,235,011.36. This represents a 21.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,855 shares of company stock worth $10,737,833. Insiders own 3.07% of the company's stock.

Hedge Funds Weigh In On Cabot

Several hedge funds have recently modified their holdings of CBT. Wolff Wiese Magana LLC bought a new stake in Cabot during the third quarter worth approximately $25,000. CWM LLC boosted its stake in shares of 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 acquiring an additional 157 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Cabot by 53.9% in 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 during the last quarter. Farther Finance Advisors LLC raised its position in shares of Cabot by 197.9% during the third 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 during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of 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 during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Company 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.