Eventide Asset Management LLC Acquires 20,273 Shares of Cabot Co. (NYSE:CBT)

Eventide Asset Management LLC raised its stake in Cabot Co. (NYSE:CBT - Free Report) by 19.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,820 shares of the specialty chemicals company's stock after buying an additional 20,273 shares during the quarter. Eventide Asset Management LLC owned about 0.22% of Cabot worth $13,728,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wolff Wiese Magana LLC bought a new stake in Cabot in the 3rd quarter valued at $25,000. CWM LLC raised its stake in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 157 shares during the period. UMB Bank n.a. lifted 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 valued at $41,000 after purchasing an additional 130 shares in the last quarter. Farther Finance Advisors LLC boosted 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 buying an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Cabot by 33.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company's stock valued at $48,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Up 0.5 %

Shares of NYSE CBT traded up $0.55 during trading hours on Friday, hitting $109.62. The company had a trading volume of 223,914 shares, compared to its average volume of 344,921. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46. 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 firm's 50 day moving average is $111.02 and its 200-day moving average is $102.97. The stock has a market capitalization of $5.96 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS 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 business's revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. On average, analysts expect that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CBT. UBS Group reduced their price target on Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research report on Tuesday, August 6th. Mizuho increased their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an "outperform" rating in a report 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 on the stock. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Cabot has an average rating of "Hold" and an average price target of $105.00.

Insider Activity at Cabot

In other news, EVP Jeff Ji Zhu sold 14,566 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the sale, the chief executive officer now directly owns 331,174 shares of the company's stock, valued at approximately $33,630,719.70. The trade was a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,807 shares of company stock worth $8,352,941. 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.