Wilmington Savings Fund Society FSB Acquires Shares of 14,774 Cabot Co. (NYSE:CBT)

Wilmington Savings Fund Society FSB purchased a new stake in Cabot Co. (NYSE:CBT - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,774 shares of the specialty chemicals company's stock, valued at approximately $1,651,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CBT. Wolff Wiese Magana LLC purchased a new stake in Cabot in the third quarter valued at approximately $25,000. CWM LLC grew its stake 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 buying an additional 157 shares during the period. UMB Bank n.a. increased its holdings 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 worth $41,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock worth $47,000 after buying an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CBT. Mizuho upped their price target on Cabot from $103.00 to $122.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. downgraded shares of Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 target price for the company. in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $105.00.

Cabot Stock Down 0.7 %

NYSE:CBT traded down $0.71 during mid-day trading on Friday, hitting $103.38. The company had a trading volume of 396,741 shares, compared to its average volume of 345,833. The business has a fifty day simple moving average of $110.25 and a 200-day simple moving average of $103.29. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.90 and a beta of 1.18. Cabot Co. has a 1 year low of $70.63 and a 1 year 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.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results 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 company had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business's quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 earnings per share. Equities analysts forecast that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, November 29th. Cabot's payout ratio is 25.52%.

Cabot declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $4,005,279.57. Following the sale, the executive vice president now owns 50,627 shares in the company, valued at $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. Insiders have sold 50,190 shares of company stock valued at $5,751,534 in the last quarter. Company insiders own 3.07% of the company's stock.

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.