Sei Investments Co. Grows Position in Cabot Co. (NYSE:CBT)

Sei Investments Co. lifted its position in shares of Cabot Co. (NYSE:CBT) by 5.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 913,259 shares of the specialty chemicals company’s stock after purchasing an additional 51,178 shares during the quarter. Sei Investments Co. owned about 1.65% of Cabot worth $83,919,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Earnest Partners LLC grew its stake in Cabot by 0.6% during the first quarter. Earnest Partners LLC now owns 3,283,302 shares of the specialty chemicals company’s stock worth $302,720,000 after buying an additional 19,276 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cabot by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock valued at $123,965,000 after acquiring an additional 4,437 shares in the last quarter. American Century Companies Inc. boosted its position in Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after purchasing an additional 66,171 shares during the period. Bank of New York Mellon Corp increased its holdings in Cabot by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock valued at $63,733,000 after purchasing an additional 11,986 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Cabot by 22.9% in the first quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock valued at $48,081,000 after purchasing an additional 97,101 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CBT shares. StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Insiders Place Their Bets

In other news, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the sale, the executive vice president now directly owns 96,000 shares in the company, valued at approximately $10,194,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cabot news, CFO Erica Mclaughlin sold 16,390 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $104.24, for a total value of $1,708,493.60. Following the transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $6,235,011.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares of the company’s stock, valued at $10,194,240. The disclosure for this sale can be found here. Insiders have sold a total of 71,939 shares of company stock valued at $7,308,812 in the last quarter. Insiders own 3.07% of the company’s stock.

Cabot Stock Performance

Cabot stock opened at $110.27 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average of $100.14 and a 200-day moving average of $96.61. The stock has a market cap of $6.09 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19. Cabot Co. has a 52 week low of $65.10 and a 52 week high of $111.64.

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 the consensus estimate of $1.72 by $0.20. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.42 EPS. On average, 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. Shareholders of record on Friday, August 30th were paid 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 was Friday, August 30th. Cabot’s payout ratio is currently 21.77%.

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.