Farther Finance Advisors LLC Purchases 277 Shares of Cabot Co. (NYSE:CBT)

Farther Finance Advisors LLC lifted its holdings in Cabot Co. (NYSE:CBT) by 197.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417 shares of the specialty chemicals company’s stock after acquiring an additional 277 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cabot were worth $47,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Eastern Bank lifted its holdings in Cabot by 577.1% during the 3rd quarter. Eastern Bank now owns 269,270 shares of the specialty chemicals company’s stock worth $30,096,000 after buying an additional 229,500 shares in the last quarter. Copeland Capital Management LLC boosted its holdings in Cabot by 30.4% in the third quarter. Copeland Capital Management LLC now owns 626,253 shares of the specialty chemicals company’s stock valued at $69,996,000 after acquiring an additional 146,179 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Cabot by 571.9% in the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after acquiring an additional 108,197 shares during the last quarter. Capital Research Global Investors increased its position in 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 purchasing an additional 97,101 shares during the period. Finally, Earnest Partners LLC raised its holdings in Cabot by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after purchasing an additional 80,096 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CBT shares. Mizuho lifted their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lowered shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a report on Monday. Finally, UBS Group cut their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Cabot currently has an average rating of “Hold” and an average target price of $105.00.

Cabot Trading Down 1.6 %

Shares of NYSE:CBT opened at $109.20 on Friday. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The company has a market capitalization of $5.99 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 0.96 and a beta of 1.20. The company has a 50-day simple moving average of $109.97 and a 200 day simple moving average of $102.03.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. Cabot’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Sell-side analysts forecast that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s payout ratio is 25.52%.

Insider Transactions at Cabot

In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the business’s 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 sale, the executive vice president now owns 61,688 shares of the company’s stock, valued at $6,204,579.04. The trade was a 8.13 % decrease in their position. The transaction was disclosed in a document filed 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 transaction of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 98,855 shares of company stock worth $10,737,833. Company insiders own 3.07% of the company’s stock.

About Cabot

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.