Fmr LLC Has $253.29 Million Stock Position in Cabot Co. (NYSE:CBT)

FMR LLC lessened its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 32.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,266,172 shares of the specialty chemicals company's stock after selling 1,084,382 shares during the quarter. FMR LLC owned 4.13% of Cabot worth $253,290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CBT. Wolff Wiese Magana LLC purchased a new stake in Cabot during the 3rd quarter worth $25,000. UMB Bank n.a. increased its position in shares of Cabot by 53.9% during 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 last quarter. CWM LLC lifted its stake in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 157 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company's stock valued at $48,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Cabot Stock Performance

Shares of CBT stock traded up $2.14 on Monday, hitting $111.76. 140,762 shares of the stock traded hands, compared to its average volume of 344,027. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46. The company's fifty day moving average is $111.02 and its 200 day moving average is $102.98. The company has a market capitalization of $6.08 billion, a PE ratio of 16.39, a PEG ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.65 EPS. Cabot's revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Cabot Co. will post 7.67 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. Shareholders of record on Friday, November 29th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Friday, November 29th. Cabot's payout ratio is 25.52%.

Insiders Place Their Bets

In related news, EVP Hobart Kalkstein sold 34,759 shares of the firm's stock in a transaction dated 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 completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at $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 90 days, insiders sold 75,807 shares of company stock worth $8,352,941. Insiders own 3.07% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CBT. Mizuho upped their target price on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. UBS Group reduced their price objective on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. downgraded shares of Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 target price for the company. in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $105.00.

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.