Cabot Co. (NYSE:CBT) Stock Holdings Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. boosted its stake in shares of Cabot Co. (NYSE:CBTFree Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,872 shares of the specialty chemicals company’s stock after purchasing an additional 446 shares during the period. First Citizens Bank & Trust Co.’s holdings in Cabot were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC acquired a new stake in Cabot in the third quarter valued at approximately $25,000. UMB Bank n.a. lifted its stake 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 worth $41,000 after buying an additional 130 shares during the last quarter. Farther Finance Advisors LLC lifted its stake 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 worth $47,000 after buying an additional 277 shares during the last quarter. CWM LLC raised its stake in Cabot by 35.6% during the 3rd quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after purchasing an additional 148 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after purchasing an additional 117 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CBT has been the subject of several research analyst reports. Mizuho cut their target price on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of 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. One research 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. According to MarketBeat.com, Cabot currently has an average rating of “Hold” and a consensus target price of $102.00.

View Our Latest Report on Cabot

Cabot Trading Down 0.3 %

Shares of Cabot stock opened at $88.06 on Tuesday. The firm has a market capitalization of $4.79 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The company’s fifty day moving average price is $97.55 and its two-hundred day moving average price is $102.42. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46.

Cabot (NYSE:CBTGet Free Report) last posted its 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). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that Cabot Co. will post 7.68 EPS for the current year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, February 28th. Cabot’s payout ratio is 25.52%.

Cabot announced that its Board of Directors has authorized a share repurchase 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 purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Cabot

In related news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the transaction, the executive vice president now owns 69,449 shares in the company, valued at approximately $7,865,099.25. The trade was a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,190 shares of company stock valued at $5,751,534. 3.07% of the stock is owned by insiders.

Cabot Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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