DekaBank Deutsche Girozentrale Invests $412,000 in Cabot Co. (NYSE:CBT)

DekaBank Deutsche Girozentrale acquired a new stake in shares of Cabot Co. (NYSE:CBT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,443 shares of the specialty chemicals company’s stock, valued at approximately $412,000.

Other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Cabot by 143.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 196 shares in the last quarter. CWM LLC increased its stake in shares of Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 157 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Cabot during the second quarter worth approximately $49,000. Mather Group LLC. acquired a new stake in Cabot in the second quarter worth approximately $58,000. Finally, nVerses Capital LLC bought a new position in Cabot during the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the sale, the chief executive officer now owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,939 shares of company stock worth $7,308,812. Corporate insiders own 3.07% of the company’s stock.

Cabot Stock Performance

Shares of NYSE CBT opened at $110.27 on Friday. The stock’s fifty day simple moving average is $99.84 and its 200 day simple moving average is $96.37. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 0.94 and a beta of 1.19. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72. Cabot Co. has a 52-week low of $65.10 and a 52-week high of $111.64.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the business posted $1.42 EPS. Cabot’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, August 30th. Cabot’s dividend payout ratio is 21.77%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CBT. StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. upped their price target on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, UBS Group lowered their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cabot has a consensus rating of “Hold” and an average price target of $101.75.

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.