Cabot Co. (NYSE:CBT) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 72.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,000 shares of the specialty chemicals company's stock after selling 16,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Cabot were worth $551,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. CWM LLC boosted its position in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Cabot by 33.4% in 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. acquired a new position in Cabot in the 2nd quarter valued at about $49,000. Mather Group LLC. acquired a new position in Cabot in the 2nd quarter valued at about $58,000. Finally, nVerses Capital LLC acquired a new position in Cabot in the 2nd quarter valued at about $64,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBT. JPMorgan Chase & Co. boosted their target price on shares of Cabot from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. UBS Group cut their target price on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com downgraded shares of Cabot from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $101.75.

Cabot Trading Up 0.3 %

Shares of NYSE CBT traded up $0.37 on Wednesday, reaching $110.91. 217,861 shares of the company traded hands, compared to its average volume of 337,641. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $113.12. The company has a 50 day moving average of $103.39 and a 200 day moving average of $98.63. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $6.13 billion, a PE ratio of 14.04, a P/E/G ratio of 1.01 and a beta of 1.19.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The company's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. On average, equities research analysts forecast that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, August 30th. Cabot's dividend payout ratio is presently 21.77%.

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the company'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 value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the transaction, the executive vice president now directly owns 61,688 shares in the company, valued at approximately $6,204,579.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now owns 331,174 shares of the company's stock, valued at approximately $33,630,719.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock worth $7,308,812 in the last 90 days. 3.07% of the stock is owned by company insiders.

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.