Entropy Technologies LP Acquires Shares of 6,275 Cabot Co. (NYSE:CBT)

Entropy Technologies LP purchased a new stake in Cabot Co. (NYSE:CBT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,275 shares of the specialty chemicals company's stock, valued at approximately $701,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC bought a new position in Cabot during the 3rd quarter worth about $25,000. CWM LLC grew its holdings in shares of Cabot by 60.6% during the second 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. raised its position in Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company's stock valued at $41,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Cabot by 197.9% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position 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 last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cabot

In other Cabot news, CFO Erica Mclaughlin sold 16,390 shares of Cabot stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the transaction, the chief financial officer now owns 59,814 shares in the company, valued at $6,235,011.36. The trade was a 21.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Hobart Kalkstein sold 34,759 shares of the company'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 transaction, the executive vice president now owns 50,627 shares of the company's stock, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,855 shares of company stock valued at $10,737,833. Company insiders own 3.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CBT shares. Mizuho lifted their price target on shares of Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. UBS Group lowered their target price on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, August 6th. Finally, 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 note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $105.00.

Cabot Stock Performance

CBT stock traded down $0.37 during trading hours on Friday, hitting $108.81. 234,236 shares of the stock were exchanged, compared to its average volume of 343,947. 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 firm has a market capitalization of $5.96 billion, a P/E ratio of 16.20, a P/E/G ratio of 0.94 and a beta of 1.20. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The company has a 50-day simple moving average of $109.97 and a two-hundred day simple moving average of $102.03.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results 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 business 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 quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. On average, analysts forecast that Cabot Co. will post 7.7 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, November 29th. Cabot's payout ratio is presently 25.52%.

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.