Chesapeake Capital Corp IL Has $562,000 Holdings in Cabot Co. (NYSE:CBT)

Chesapeake Capital Corp IL raised its holdings in shares of Cabot Co. (NYSE:CBT) by 27.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,069 shares of the specialty chemicals company’s stock after purchasing an additional 1,097 shares during the period. Chesapeake Capital Corp IL’s holdings in Cabot were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in Cabot by 571.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after purchasing an additional 108,197 shares during the period. Tidal Investments LLC raised its position in shares of Cabot by 101.7% in the 1st quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after acquiring an additional 9,131 shares during the period. Atria Investments Inc acquired a new stake in shares of Cabot in the 1st quarter valued at approximately $1,592,000. Oppenheimer Asset Management Inc. raised its position in shares of Cabot by 24.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 42,240 shares of the specialty chemicals company’s stock valued at $3,881,000 after acquiring an additional 8,175 shares during the period. Finally, Earnest Partners LLC raised its position in shares of Cabot by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock valued at $309,063,000 after acquiring an additional 80,096 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cabot

In related news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. This trade represents a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the transaction, the chief accounting officer now directly owns 9,742 shares of the company’s stock, valued at $1,088,571.08. This represents a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 98,855 shares of company stock valued at $10,737,833 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Cabot Price Performance

NYSE CBT opened at $108.81 on Friday. The business has a 50 day simple moving average of $110.16 and a 200 day simple moving average of $102.21. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.93 and a beta of 1.20.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.01). The business had revenue of $1 billion for 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%. Cabot’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. Analysts anticipate that Cabot Co. will post 7.68 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm 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 dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.58%. Cabot’s dividend payout ratio is currently 25.52%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CBT. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research report on Monday, November 11th. UBS Group cut their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, Mizuho increased their target price on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $105.00.

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.