Cabot Co. (NYSE:CBT) Stock Holdings Increased by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its stake in Cabot Co. (NYSE:CBT) by 120.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,817 shares of the specialty chemicals company’s stock after purchasing an additional 11,905 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cabot were worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Earnest Partners LLC lifted its position in shares of Cabot by 2.4% in the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after purchasing an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cabot by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after buying an additional 4,437 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cabot by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,283,686 shares of the specialty chemicals company’s stock worth $143,504,000 after buying an additional 22,719 shares during the last quarter. American Century Companies Inc. increased its holdings in Cabot by 7.3% in the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after buying an additional 66,171 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after purchasing an additional 51,178 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jeff Ji Zhu sold 14,566 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total value of $1,649,599.50. Following the completion of the transaction, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at $7,865,099.25. This trade represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lisa M. Dumont sold 865 shares of the business’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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 50,190 shares of company stock valued at $5,751,534 over the last ninety days. 3.07% of the stock is owned by company insiders.

Cabot Trading Down 1.8 %

Shares of Cabot stock opened at $100.09 on Wednesday. The company’s fifty day simple moving average is $109.86 and its 200-day simple moving average is $103.32. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.90 and a beta of 1.18. 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 Co. has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. As a group, sell-side analysts expect that Cabot Co. will post 7.67 EPS for the current year.

Cabot announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.43 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 1.72%. Cabot’s dividend payout ratio (DPR) is currently 25.52%.

Analysts Set New Price Targets

Several brokerages have commented on CBT. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Monday, November 11th. Mizuho increased their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.