Amalgamated Bank Has $2.46 Million Position in Cabot Co. (NYSE:CBT)

Amalgamated Bank cut its holdings in Cabot Co. (NYSE:CBT) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,815 shares of the specialty chemicals company’s stock after selling 2,217 shares during the quarter. Amalgamated Bank’s holdings in Cabot were worth $2,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CBT. Banque Cantonale Vaudoise boosted its position in shares of Cabot by 17.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after purchasing an additional 124 shares during the last quarter. Miller Howard Investments Inc. NY increased its holdings in 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 purchasing an additional 132 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in 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 during the period. CWM LLC boosted its holdings in Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 157 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of Cabot by 0.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 42,185 shares of the specialty chemicals company’s stock worth $3,876,000 after buying an additional 162 shares during the period. Institutional investors own 93.18% of the company’s stock.

Cabot Stock Performance

Shares of CBT opened at $110.22 on Wednesday. The firm has a market cap of $6.09 billion, a P/E ratio of 13.95, a PEG ratio of 0.94 and a beta of 1.19. Cabot Co. has a twelve month low of $65.10 and a twelve month high of $111.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. The firm’s 50 day moving average price is $100.60 and its two-hundred day moving average price is $97.00.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $1.02 billion for 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 quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $1.42 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, August 30th were given a dividend of $0.43 per share. The ex-dividend date was Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.56%. Cabot’s dividend payout ratio is currently 21.77%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CBT. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. UBS Group cut their target price on shares of 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. boosted 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $101.75.

Insider Buying and Selling

In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction 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 owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the sale, the executive vice president now directly owns 61,688 shares in the company, valued at $6,204,579.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is owned by corporate insiders.

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.