Cabot Co. (NYSE:CBT) Stake Raised by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in shares of Cabot Co. (NYSE:CBT) by 121.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,728 shares of the specialty chemicals company’s stock after acquiring an additional 4,234 shares during the quarter. Edgestream Partners L.P.’s holdings in Cabot were worth $710,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CBT. Eventide Asset Management LLC acquired a new position in Cabot in the 4th quarter valued at approximately $6,919,000. BNP Paribas Financial Markets increased its stake in shares of Cabot by 28.8% in the first quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock worth $4,727,000 after acquiring an additional 11,471 shares during the last quarter. Leeward Investments LLC MA raised its holdings in shares of 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 acquiring an additional 47,682 shares in the last quarter. Sei Investments Co. boosted its position in Cabot by 33.9% during the fourth quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock valued at $67,854,000 after purchasing an additional 205,582 shares during the last quarter. Finally, Quadrature Capital Ltd grew its stake in 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 purchasing an additional 8,282 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Stock Down 0.8 %

CBT opened at $110.27 on Friday. The firm 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. 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 business has a 50 day moving average price of $100.14 and a 200 day moving average price of $96.61. Cabot Co. has a twelve month low of $65.10 and a twelve month high of $111.64.

Cabot (NYSE:CBT) last issued its quarterly earnings data 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. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the company earned $1.42 earnings per share. Cabot’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts forecast that Cabot Co. will post 7.07 EPS 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. The ex-dividend date was Friday, August 30th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.56%. Cabot’s payout ratio is presently 21.77%.

Insider Buying and Selling

In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the firm’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 of the company’s stock, valued at approximately $6,204,579.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Hobart Kalkstein sold 5,457 shares of the 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 completion of the sale, the executive vice president now directly 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 can be accessed through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at approximately $10,194,240. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,939 shares of company stock valued at $7,308,812. Insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

CBT has been the subject of several research reports. JPMorgan Chase & Co. lifted 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. UBS Group reduced 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. Finally, StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average 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.