Charles Schwab Investment Management Inc. Grows Position in Cabot Co. (NYSE:CBT)

Charles Schwab Investment Management Inc. boosted its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,433 shares of the specialty chemicals company's stock after acquiring an additional 19,215 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.29% of Cabot worth $79,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC raised its holdings in Cabot by 460.6% in the first quarter. Lazard Asset Management LLC now owns 2,007 shares of the specialty chemicals company's stock worth $185,000 after purchasing an additional 1,649 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Cabot by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,375 shares of the specialty chemicals company's stock worth $3,539,000 after purchasing an additional 1,788 shares in the last quarter. Tidal Investments LLC raised its position in shares of Cabot by 101.7% during the first quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company's stock valued at $1,669,000 after buying an additional 9,131 shares during the last quarter. Atria Investments Inc purchased a new stake in Cabot in the 1st quarter worth $1,592,000. Finally, First Hawaiian Bank purchased a new stake in shares of Cabot in the second quarter worth about $269,000. Institutional investors own 93.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group reduced 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. JPMorgan Chase & Co. cut 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. Finally, Mizuho raised their price objective on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. 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 data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $105.00.

Cabot Stock Performance

Shares of CBT traded down $1.09 during trading hours on Thursday, reaching $109.50. 386,761 shares of the company traded hands, compared to its average volume of 345,448. The stock has a market capitalization of $5.96 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.97 and a beta of 1.20. 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 business has a fifty day moving average price of $111.07 and a 200-day moving average price of $102.87. Cabot Co. has a 12-month low of $70.63 and a 12-month 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 earnings per share for the quarter, missing analysts' consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 earnings per share. Equities analysts anticipate that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced 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 dividend yield of 1.57%. Cabot's dividend payout ratio (DPR) is presently 25.52%.

Insider Activity at Cabot

In other news, EVP Hobart Kalkstein sold 34,759 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 50,627 shares in the company, valued at $5,833,749.21. This represents a 40.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of Cabot stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total value of $1,649,599.50. Following the transaction, the executive vice president now owns 69,449 shares of the company's stock, valued at approximately $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,807 shares of company stock worth $8,352,941 over the last three months. Company insiders own 3.07% of the company's stock.

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.