Harvest Fund Management Co. Ltd Sells 552 Shares of Cabot Co. (NYSE:CBT)

Harvest Fund Management Co. Ltd lessened its holdings in Cabot Co. (NYSE:CBT) by 23.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,773 shares of the specialty chemicals company’s stock after selling 552 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cabot were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CBT. Lazard Asset Management LLC increased its holdings in shares of Cabot by 460.6% in the first quarter. Lazard Asset Management LLC now owns 2,007 shares of the specialty chemicals company’s stock valued at $185,000 after purchasing an additional 1,649 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Cabot by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,375 shares of the specialty chemicals company’s stock valued at $3,539,000 after buying an additional 1,788 shares during the last quarter. Tidal Investments LLC raised its holdings in Cabot by 101.7% in the 1st quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after acquiring an additional 9,131 shares during the period. Atria Investments Inc acquired a new stake in Cabot during the first quarter worth approximately $1,592,000. Finally, First Hawaiian Bank bought a new stake in shares of Cabot during the second quarter worth approximately $269,000. Institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CBT has been the subject of several research reports. UBS Group dropped their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research report on Monday, November 11th. Finally, Mizuho boosted their target price on shares of Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued 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 $105.00.

Cabot Trading Down 1.0 %

Shares of NYSE:CBT opened at $109.50 on Thursday. The company has a market capitalization of $5.96 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The business’s 50 day simple moving average is $111.04 and its 200 day simple moving average is $102.82. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last issued 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 company had revenue of $1 billion during 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, research analysts anticipate that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the sale, the executive vice president now directly owns 50,627 shares in the company, valued at approximately $5,833,749.21. This represents a 40.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,807 shares of company stock worth $8,352,941. Corporate 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.