Algert Global LLC Grows Stake in Cabot Co. (NYSE:CBT)

Algert Global LLC lifted its position in Cabot Co. (NYSE:CBT) by 50.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 43,712 shares of the specialty chemicals company’s stock after buying an additional 14,750 shares during the period. Algert Global LLC’s holdings in Cabot were worth $4,886,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CBT. Wolff Wiese Magana LLC purchased a new stake in shares of Cabot during the 3rd quarter valued at $25,000. CWM LLC raised its position in Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares during the period. UMB Bank n.a. lifted its stake in shares of Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Price Performance

NYSE CBT opened at $110.36 on Monday. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $6.00 billion, a P/E ratio of 16.37, a PEG ratio of 0.93 and a beta of 1.20. The company has a 50-day moving average price of $110.81 and a 200-day moving average price of $102.68. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46.

Cabot (NYSE:CBT) last posted its quarterly earnings results 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 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 quarter in the previous year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio is presently 25.52%.

Analyst Upgrades and Downgrades

CBT has been the topic of a number of research analyst reports. Mizuho boosted 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. UBS Group decreased their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut 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 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $105.00.

Insiders Place Their Bets

In other news, EVP Jeff Ji Zhu sold 14,566 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total value of $1,649,599.50. Following the sale, the executive vice president now owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now directly owns 50,627 shares of the company’s stock, valued at approximately $5,833,749.21. The trade was a 40.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,197 shares of company stock valued at $10,061,434 in the last quarter. 3.07% of the stock is currently owned by insiders.

Cabot 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.