Citigroup Inc. Has $6.67 Million Position in Cabot Co. (NYSE:CBT)

Citigroup Inc. grew its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 221.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,707 shares of the specialty chemicals company's stock after buying an additional 41,121 shares during the period. Citigroup Inc. owned 0.11% of Cabot worth $6,673,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new position in Cabot during the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its holdings in shares of Cabot by 53.9% in the third 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 period. CWM LLC lifted its holdings in Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 157 shares during the period. Farther Finance Advisors LLC grew its position in shares of Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after acquiring an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 119 shares during the period. 93.18% of the stock is owned by institutional investors.

Insider Buying and Selling at Cabot

In other Cabot 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 transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Lisa M. Dumont sold 865 shares of the business's stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 9,742 shares of the company's stock, valued at approximately $1,088,571.08. This represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,807 shares of company stock valued at $8,352,941 in the last quarter. Company insiders own 3.07% of the company's stock.

Cabot Trading Up 0.5 %

Shares of NYSE CBT traded up $0.55 during midday trading on Friday, reaching $109.62. 223,914 shares of the stock were exchanged, compared to its average volume of 459,751. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The stock has a 50 day moving average price of $111.02 and a 200-day moving average price of $102.97. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $5.96 billion, a P/E ratio of 16.26, a P/E/G ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results 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). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company posted $1.65 earnings per share. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts expect that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 1.57%. Cabot's dividend payout ratio (DPR) is presently 25.52%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CBT shares. 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. 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 report on Monday, November 11th. Finally, Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. One 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $105.00.

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.