Hancock Whitney Corp Trims Stake in Cabot Co. (NYSE:CBT)

Hancock Whitney Corp trimmed its position in shares of Cabot Co. (NYSE:CBT) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 134,079 shares of the specialty chemicals company’s stock after selling 659 shares during the period. Hancock Whitney Corp’s holdings in Cabot were worth $14,986,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CBT. Wolff Wiese Magana LLC purchased a new position in Cabot in the 3rd quarter worth approximately $25,000. CWM LLC boosted its position 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 acquiring an additional 157 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Cabot by 53.9% during the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 130 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Cabot by 197.9% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in 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 purchasing an additional 119 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Cabot Stock Performance

NYSE CBT opened at $110.36 on Monday. The business’s 50 day moving average price is $110.81 and its 200-day moving average price is $102.68. Cabot Co. has a fifty-two week low of $70.63 and a fifty-two week high of $117.46. The company has a market cap of $6.00 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.94 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $1.65 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Sell-side analysts predict that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently announced 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 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 dividend payout ratio is 25.52%.

Insider Transactions at Cabot

In related news, CFO Erica Mclaughlin sold 16,390 shares of Cabot stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $104.24, for a total transaction of $1,708,493.60. Following the completion of the sale, the chief financial officer now owns 59,814 shares in the company, valued at $6,235,011.36. This trade represents a 21.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,742 shares in the company, 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. Over the last three months, insiders have sold 92,197 shares of company stock worth $10,061,434. 3.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CBT shares. UBS Group reduced 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. JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a report on Monday, November 11th. Finally, Mizuho boosted their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.