Federated Hermes Inc. Has $1.16 Million Stock Holdings in Cabot Co. (NYSE:CBT)

Federated Hermes Inc. decreased its position in shares of Cabot Co. (NYSE:CBT) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,661 shares of the specialty chemicals company’s stock after selling 266 shares during the period. Federated Hermes Inc.’s holdings in Cabot were worth $1,163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Earnest Partners LLC increased its holdings in Cabot by 0.6% in 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 last quarter. American Century Companies Inc. raised its stake in shares of Cabot by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after acquiring an additional 66,171 shares in the last quarter. Sei Investments Co. grew its holdings in Cabot by 6.1% during the first quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after purchasing an additional 49,467 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Cabot by 1.8% in the second 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 during the period. Finally, Capital Research Global Investors lifted its stake in shares of Cabot by 22.9% in the first quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock worth $48,081,000 after buying an additional 97,101 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CBT. UBS Group cut their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.75.

Cabot Stock Down 0.8 %

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

Cabot (NYSE:CBT) last announced 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 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 company’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $1.42 EPS. On average, equities research analysts expect that Cabot Co. will post 7.07 earnings per share for the current year.

Cabot Dividend Announcement

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

Insider Transactions at Cabot

In related news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Hobart Kalkstein sold 5,457 shares of the company’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 directly owns 61,688 shares in the company, valued at approximately $6,204,579.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 of the company’s stock, valued at approximately $33,630,719.70. The disclosure for this sale can be found here. In the last three months, insiders sold 71,939 shares of company stock valued at $7,308,812. Company insiders own 3.07% of the company’s stock.

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.