Quest Partners LLC Has $483,000 Stock Position in Cabot Co. (NYSE:CBT)

Quest Partners LLC reduced its holdings in Cabot Co. (NYSE:CBT - Free Report) by 83.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,321 shares of the specialty chemicals company's stock after selling 22,578 shares during the quarter. Quest Partners LLC's holdings in Cabot were worth $483,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CBT. Wolff Wiese Magana LLC acquired a new position in shares of Cabot during the 3rd quarter valued at $25,000. CWM LLC increased its position in shares of Cabot by 60.6% during the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 157 shares during the period. UMB Bank n.a. increased its position in shares of Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 130 shares during the period. Farther Finance Advisors LLC increased its position in shares of Cabot by 197.9% during the 3rd 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 period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Cabot by 33.4% during the 2nd 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 period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CBT shares. JPMorgan Chase & Co. lowered Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 price objective for the company. in a research note on Monday, November 11th. Mizuho raised their target price on Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, UBS Group cut their target price on Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Cabot has an average rating of "Hold" and a consensus price target of $105.00.

Cabot Stock Up 1.6 %

NYSE CBT traded up $1.69 during trading on Friday, hitting $110.36. 398,012 shares of the company traded hands, compared to its average volume of 472,653. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The business has a fifty day simple moving average of $110.81 and a 200 day simple moving average of $102.67. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $6.00 billion, a P/E ratio of 16.37, a PEG 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 analysts' consensus estimates of $1.81 by ($0.01). The business 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 company's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. As a group, sell-side analysts predict that Cabot Co. will post 7.67 EPS for the current year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.56%. Cabot's payout ratio is presently 25.52%.

Insider Transactions at Cabot

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the transaction, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $1,088,571.08. This trade represents a 8.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,398 shares of company stock worth $10,188,968. Company insiders own 3.07% of the company's stock.

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.