Cabot Co. (NYSE:CBT) Shares Sold by Algert Global LLC

Algert Global LLC lessened its stake in Cabot Co. (NYSE:CBT - Free Report) by 24.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 28,962 shares of the specialty chemicals company's stock after selling 9,247 shares during the period. Algert Global LLC owned about 0.05% of Cabot worth $2,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its position 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 purchasing an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 buying an additional 119 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Cabot in the 2nd quarter valued at approximately $49,000. Mather Group LLC. acquired a new position in shares of Cabot in the second quarter worth $58,000. Finally, nVerses Capital LLC purchased a new stake in shares of Cabot during the second quarter worth $64,000. Hedge funds and other institutional investors own 93.18% of the company's stock.

Insider Activity at Cabot

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the transaction, the chief financial officer now owns 59,814 shares of the company's stock, valued at $5,968,839.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the sale, the chief financial officer now directly owns 59,814 shares of the company's stock, valued at $5,968,839.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock valued at $7,308,812 over the last ninety days. Insiders own 3.07% of the company's stock.

Analyst Upgrades and Downgrades

CBT has been the subject of several analyst reports. UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cabot from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Finally, StockNews.com cut shares of Cabot from a "strong-buy" rating to a "buy" rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $101.75.

Cabot Stock Down 0.2 %

NYSE CBT traded down $0.27 during trading on Wednesday, reaching $110.59. 156,903 shares of the company's stock were exchanged, compared to its average volume of 341,712. The company has a 50 day moving average price of $101.93 and a two-hundred day moving average price of $97.81. The stock has a market cap of $6.11 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.01 and a beta of 1.19. Cabot Co. has a 1 year low of $65.10 and a 1 year high of $113.12. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Cabot Co. will post 7.07 EPS for the current fiscal year.

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 1.56%. Cabot's dividend payout ratio is currently 21.77%.

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.