UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $11.17 Million Stock Position in Cabot Co. (NYSE:CBT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Cabot Co. (NYSE:CBT - Free Report) by 10.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 99,953 shares of the specialty chemicals company's stock after selling 11,305 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of Cabot worth $11,172,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CBT. Wolff Wiese Magana LLC acquired a new stake in Cabot during the 3rd quarter worth approximately $25,000. CWM LLC lifted its holdings 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 buying an additional 157 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 130 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after acquiring an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company's stock valued at $48,000 after acquiring an additional 119 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Cabot Price Performance

CBT stock traded up $1.37 during mid-day trading on Friday, hitting $105.03. The stock had a trading volume of 340,057 shares, compared to its average volume of 390,633. The firm has a fifty day simple moving average of $110.80 and a 200 day simple moving average of $103.18. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46. 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 firm has a market capitalization of $5.71 billion, a P/E ratio of 15.58, a P/E/G ratio of 0.92 and a beta of 1.18.

Cabot (NYSE:CBT - Get Free Report) last announced 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). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $1.65 earnings per share. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Cabot Co. will post 7.67 EPS for the current year.

Cabot declared that its Board of Directors has approved a share repurchase program on Tuesday, December 3rd that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Cabot Announces Dividend

The company also recently declared 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, November 29th. Cabot's payout ratio is 25.52%.

Insider Activity

In related news, CAO Lisa M. Dumont sold 865 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at $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 available through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of Cabot stock in a transaction that occurred on 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 sale, the executive vice president now owns 50,627 shares in the company, valued at approximately $5,833,749.21. This represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,190 shares of company stock worth $5,751,534. Insiders own 3.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CBT shares. Mizuho boosted their price objective on shares of Cabot from $103.00 to $122.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut 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. One equities research 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 has an average rating of "Hold" and a consensus price target of $105.00.

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.