Barrow Hanley Mewhinney & Strauss LLC Sells 464,408 Shares of Cabot Co. (NYSE:CBT)

Barrow Hanley Mewhinney & Strauss LLC reduced its stake in Cabot Co. (NYSE:CBT) by 60.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the specialty chemicals company’s stock after selling 464,408 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.54% of Cabot worth $27,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CBT. Eventide Asset Management LLC acquired a new position in Cabot during the fourth quarter worth $6,919,000. BNP Paribas Financial Markets lifted its holdings in Cabot by 28.8% during the 1st quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock valued at $4,727,000 after purchasing an additional 11,471 shares during the last quarter. Leeward Investments LLC MA grew its stake in Cabot by 41.1% during the first quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock worth $15,085,000 after buying an additional 47,682 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Cabot by 33.9% during the fourth quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock worth $67,854,000 after buying an additional 205,582 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of Cabot by 267.3% in the fourth quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company’s stock valued at $950,000 after acquiring an additional 8,282 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of Cabot 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 owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Erica Mclaughlin sold 23,274 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the transaction, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock valued at $7,308,812 over the last ninety days. Insiders own 3.07% of the company’s stock.

Cabot Stock Performance

CBT stock opened at $110.27 on Monday. The company has a 50 day moving average price of $100.14 and a 200 day moving average price of $96.69. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $111.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. The stock has a market capitalization of $6.09 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.94 and a beta of 1.19.

Cabot (NYSE:CBT) last released its 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. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 earnings per share. Analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, August 30th. Cabot’s dividend payout ratio is 21.77%.

Analyst Upgrades and Downgrades

CBT has been the topic of a number of research analyst reports. UBS Group decreased their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.75.

Cabot Company 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.