Skandinaviska Enskilda Banken AB publ Has $809,000 Stake in Cabot Co. (NYSE:CBT)

Skandinaviska Enskilda Banken AB publ trimmed its position in Cabot Co. (NYSE:CBT) by 32.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,800 shares of the specialty chemicals company’s stock after selling 4,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cabot were worth $809,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Banque Cantonale Vaudoise increased its stake in shares of Cabot by 17.5% in the first quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock valued at $77,000 after buying an additional 124 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of Cabot by 4.4% in the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 132 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Cabot by 1.4% in the first quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after buying an additional 145 shares in the last quarter. CWM LLC increased its stake in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 157 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Cabot by 0.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 42,185 shares of the specialty chemicals company’s stock valued at $3,876,000 after buying an additional 162 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the firm’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 transaction, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the firm’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 transaction, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sean D. Keohane sold 25,617 shares of Cabot 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 transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,939 shares of company stock worth $7,308,812. Insiders own 3.07% of the company’s stock.

Cabot Price Performance

Cabot stock opened at $109.34 on Tuesday. The business’s 50-day simple moving average is $100.39 and its 200 day simple moving average is $96.84. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 0.94 and a beta of 1.19. Cabot Co. has a 12-month low of $65.10 and a 12-month high of $111.64. 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 issued its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) 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 earned $1.42 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Cabot Co. will post 7.07 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Friday, August 30th. Cabot’s dividend payout ratio (DPR) is currently 21.77%.

Wall Street Analysts Forecast Growth

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