Intech Investment Management LLC Buys 7,351 Shares of Cabot Co. (NYSE:CBT)

Intech Investment Management LLC boosted its holdings in Cabot Co. (NYSE:CBT - Free Report) by 251.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,271 shares of the specialty chemicals company's stock after buying an additional 7,351 shares during the quarter. Intech Investment Management LLC's holdings in Cabot were worth $1,148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank increased its position in Cabot by 577.1% during the 3rd quarter. Eastern Bank now owns 269,270 shares of the specialty chemicals company's stock valued at $30,096,000 after purchasing an additional 229,500 shares during the period. Fiera Capital Corp bought a new position in Cabot in the third quarter worth approximately $19,643,000. Copeland Capital Management LLC grew its stake in Cabot by 30.4% in the third quarter. Copeland Capital Management LLC now owns 626,253 shares of the specialty chemicals company's stock valued at $69,996,000 after acquiring an additional 146,179 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Cabot by 571.9% during the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company's stock valued at $11,681,000 after acquiring an additional 108,197 shares in the last quarter. Finally, Earnest Partners LLC raised its position in shares of Cabot by 2.4% during the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company's stock worth $309,063,000 after purchasing an additional 80,096 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Trading Down 1.0 %

Shares of CBT traded down $1.09 during mid-day trading on Thursday, hitting $109.50. 386,761 shares of the company's stock traded hands, compared to its average volume of 345,448. 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 business's 50-day moving average price is $111.07 and its 200-day moving average price is $102.87. The firm has a market capitalization of $5.96 billion, a P/E ratio of 16.25, a PEG ratio of 0.97 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The firm's revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 EPS. As a group, sell-side analysts forecast that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Dividend Announcement

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

Wall Street Analysts Forecast Growth

CBT has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded 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, November 11th. UBS Group lowered their target price 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. Finally, Mizuho upped their price objective on shares of Cabot from $103.00 to $122.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. 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 company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $105.00.

Insiders Place Their Bets

In related news, CAO Lisa M. Dumont sold 865 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total value of $96,655.10. Following the transaction, the chief accounting officer now owns 9,742 shares in the company, valued at $1,088,571.08. The trade was a 8.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of Cabot 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 directly 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. Over the last quarter, insiders have sold 75,807 shares of company stock worth $8,352,941. 3.07% of the stock is currently owned by company insiders.

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.