Janney Montgomery Scott LLC Has $1.29 Million Position in Cabot Co. (NYSE:CBT)

Janney Montgomery Scott LLC reduced its stake in shares of Cabot Co. (NYSE:CBT) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,520 shares of the specialty chemicals company’s stock after selling 227 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cabot were worth $1,288,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CBT. Assenagon Asset Management S.A. increased its stake in Cabot by 571.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock worth $11,681,000 after purchasing an additional 108,197 shares in the last quarter. Tidal Investments LLC increased its position in shares of Cabot by 101.7% during the first quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock worth $1,669,000 after acquiring an additional 9,131 shares in the last quarter. Atria Investments Inc acquired a new stake in shares of Cabot during the first quarter worth $1,592,000. Oppenheimer Asset Management Inc. lifted its position in Cabot by 24.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 42,240 shares of the specialty chemicals company’s stock valued at $3,881,000 after acquiring an additional 8,175 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in Cabot by 2.4% in 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 period. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Buying and Selling at Cabot

In related news, 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 value of $127,534.19. Following the completion of the sale, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Hobart Kalkstein sold 5,457 shares of Cabot stock in a transaction 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 of the company’s stock, valued at $6,204,579.04. This represents a 8.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,855 shares of company stock worth $10,737,833 over the last ninety days. Insiders own 3.07% of the company’s stock.

Analyst Ratings Changes

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

Cabot Price Performance

Shares of CBT opened at $109.20 on Friday. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 0.96 and a beta of 1.20. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $109.97 and its 200 day simple moving average is $102.03. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46.

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

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. Cabot’s dividend payout ratio (DPR) is 25.52%.

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.