Cabot Co. (NYSE:CBT) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd reduced its holdings in Cabot Co. (NYSE:CBT) by 70.6% during the 3rd quarter, Holdings Channel reports. The firm owned 9,421 shares of the specialty chemicals company’s stock after selling 22,586 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Cabot were worth $1,053,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Earnest Partners LLC increased its stake 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 buying an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Cabot by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after buying an additional 4,437 shares during the period. American Century Companies Inc. boosted its position in shares of Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after purchasing an additional 66,171 shares during the period. Sei Investments Co. increased its holdings in Cabot by 5.9% in the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after purchasing an additional 51,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cabot by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock valued at $79,070,000 after purchasing an additional 19,215 shares during the period. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the sale, the chief accounting officer now directly owns 9,742 shares in the company, valued at $1,088,571.08. This represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the 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 sale, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. The trade was a 7.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,807 shares of company stock worth $8,352,941. 3.07% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CBT has been the subject of several research reports. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research report on Monday, November 11th. Mizuho lifted their price objective on shares of Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group reduced 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Cabot presently has a consensus rating of “Hold” and an average target price of $105.00.

Cabot Stock Down 2.6 %

Shares of NYSE:CBT opened at $110.59 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. Cabot Co. has a twelve month low of $70.63 and a twelve month high of $117.46. The company has a market capitalization of $6.01 billion, a PE ratio of 16.41, a P/E/G ratio of 0.94 and a beta of 1.20. The firm has a 50 day simple moving average of $110.97 and a 200-day simple moving average of $102.76.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (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%. The business’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. On average, equities analysts predict that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Cabot 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.