Sanctuary Advisors LLC Grows Position in Cabot Co. (NYSE:CBT)

Sanctuary Advisors LLC boosted its holdings in Cabot Co. (NYSE:CBT - Free Report) by 120.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,817 shares of the specialty chemicals company's stock after purchasing an additional 11,905 shares during the period. Sanctuary Advisors LLC's holdings in Cabot were worth $2,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Earnest Partners LLC lifted its holdings in Cabot by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company's stock worth $309,063,000 after purchasing an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Cabot by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company's stock worth $123,965,000 after purchasing an additional 4,437 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cabot by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,686 shares of the specialty chemicals company's stock worth $143,504,000 after purchasing an additional 22,719 shares in the last quarter. American Century Companies Inc. lifted its holdings in Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company's stock worth $89,750,000 after purchasing an additional 66,171 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Cabot by 5.9% during the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company's stock worth $83,919,000 after purchasing an additional 51,178 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CBT. 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 note on Monday, November 11th. Mizuho upped their target price on Cabot from $103.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. One investment 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, the company has a consensus rating of "Hold" and a consensus target price of $105.00.

Cabot Price Performance

Shares of Cabot stock traded down $5.12 during trading on Wednesday, hitting $94.97. 490,905 shares of the stock traded hands, compared to its average volume of 346,402. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.90 and a beta of 1.18. The firm's fifty day moving average is $109.55 and its 200-day moving average is $103.26. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 EPS 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 the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. Cabot's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.65 earnings per share. Research analysts expect that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Friday, November 29th. Cabot's dividend payout ratio is presently 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 shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Cabot

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,742 shares in the company, valued at approximately $1,088,571.08. This trade represents a 8.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Hobart Kalkstein sold 34,759 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares of the company's stock, valued at approximately $5,833,749.21. This trade represents a 40.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,190 shares of company stock worth $5,751,534 in the last ninety days. 3.07% of the stock is owned by company insiders.

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.