Jennison Associates LLC Purchases Shares of 13,267 Cabot Co. (NYSE:CBT)

Jennison Associates LLC purchased a new position in Cabot Co. (NYSE:CBT - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,267 shares of the specialty chemicals company's stock, valued at approximately $1,483,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CBT. Earnest Partners LLC raised its holdings in shares of Cabot by 2.4% in the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company's stock worth $309,063,000 after buying an additional 80,096 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cabot by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company's stock worth $123,965,000 after purchasing an additional 4,437 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Cabot by 7.3% during the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company's stock valued at $89,750,000 after purchasing an additional 66,171 shares during the period. Sei Investments Co. increased its stake in Cabot by 5.9% in the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company's stock worth $83,919,000 after buying an additional 51,178 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Cabot by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company's stock valued at $63,733,000 after buying an additional 11,986 shares in the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. UBS Group reduced their target price on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 target price for the company. in a report on Monday, November 11th. Finally, Mizuho raised their price target on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. One 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 MarketBeat.com, Cabot presently has an average rating of "Hold" and an average target price of $105.00.

Insiders Place Their Bets

In related news, CFO Erica Mclaughlin sold 16,390 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 59,814 shares in the company, valued at $6,235,011.36. This trade represents a 21.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa M. Dumont sold 865 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the completion of the transaction, the chief accounting officer now owns 9,742 shares of the company's stock, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,398 shares of company stock valued at $10,188,968. 3.07% of the stock is currently owned by corporate insiders.

Cabot Stock Up 1.6 %

CBT stock traded up $1.69 during trading on Friday, reaching $110.36. 398,012 shares of the company traded hands, compared to its average volume of 472,653. The business has a 50 day simple moving average of $110.81 and a 200 day simple moving average of $102.68. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1 billion for 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 company's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 EPS. On average, equities research analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently declared 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. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, November 29th. Cabot's dividend payout ratio (DPR) is presently 25.52%.

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.