Commonwealth Equity Services LLC Acquires 523 Shares of Cabot Co. (NYSE:CBT)

Commonwealth Equity Services LLC increased its holdings in Cabot Co. (NYSE:CBT) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,205 shares of the specialty chemicals company’s stock after purchasing an additional 523 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Cabot were worth $478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CBT. Norges Bank bought a new stake in Cabot during the 4th quarter valued at approximately $41,471,000. UBS Group AG boosted its position in Cabot by 51.1% during the 4th quarter. UBS Group AG now owns 83,355 shares of the specialty chemicals company’s stock valued at $6,960,000 after acquiring an additional 28,204 shares in the last quarter. Wells Fargo & Company MN boosted its position in Cabot by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 260,428 shares of the specialty chemicals company’s stock valued at $21,746,000 after acquiring an additional 1,352 shares in the last quarter. Trexquant Investment LP boosted its position in Cabot by 179.6% during the 4th quarter. Trexquant Investment LP now owns 25,935 shares of the specialty chemicals company’s stock valued at $2,166,000 after acquiring an additional 16,658 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Cabot by 143.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 196 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. UBS Group lowered their target price on shares of 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. lifted their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.75.

Cabot Price Performance

Shares of NYSE CBT opened at $110.27 on Friday. Cabot Co. has a twelve month low of $65.10 and a twelve month high of $111.64. The firm has a market cap of $6.09 billion, a P/E ratio of 13.96, a PEG ratio of 0.94 and a beta of 1.19. The company has a 50 day moving average of $100.14 and a 200 day moving average of $96.61. 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 (NYSE:CBT) last announced its quarterly earnings data 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 net margin of 12.05% and a return on equity of 26.99%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $1.42 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts expect that Cabot Co. will post 7.07 EPS for the current fiscal year.

Cabot Announces Dividend

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

Insider Buying and Selling

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

About Cabot

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.