Sanctuary Advisors LLC Has $2.41 Million Stock Holdings in Cabot Co. (NYSE:CBT)

Sanctuary Advisors LLC grew its position in Cabot Co. (NYSE:CBT) by 120.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,817 shares of the specialty chemicals company’s stock after purchasing an additional 11,905 shares during the period. Sanctuary Advisors LLC’s holdings in Cabot were worth $2,408,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Citizens Bank & Trust Co. lifted its position in Cabot by 2.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after buying an additional 109 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after buying an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 119 shares in the last quarter. UMB Bank n.a. lifted its position in Cabot by 53.9% during the 3rd 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 in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in Cabot by 4.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after buying an additional 132 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Activity

In other news, 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 value of $96,655.10. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $115.23, for a total value 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. This trade represents a 40.71 % decrease in their ownership of the stock. 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 in the last ninety days. 3.07% of the stock is owned by insiders.

Cabot Stock Performance

Shares of NYSE:CBT opened at $100.09 on Wednesday. The stock has a market capitalization of $5.44 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.90 and a beta of 1.18. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $109.86 and a two-hundred day moving average price of $103.32.

Cabot (NYSE:CBT) last announced its quarterly earnings data 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 firm 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%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. Equities analysts predict that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot announced that its board has initiated a share repurchase program on Tuesday, December 3rd that allows the company to buyback 10,000,000 shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.72%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CBT. Mizuho upped 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. 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. One equities research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.00.

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.