Cabot Co. (NYSE:CBT) Shares Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC grew its position in Cabot Co. (NYSE:CBT) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,116 shares of the specialty chemicals company’s stock after purchasing an additional 178 shares during the period. Moran Wealth Management LLC’s holdings in Cabot were worth $6,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC acquired a new position in shares of Cabot in the 3rd quarter valued at about $25,000. CWM LLC lifted its position in Cabot by 60.6% during the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 157 shares in the last quarter. UMB Bank n.a. lifted its position in Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 130 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 119 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on CBT shares. UBS Group reduced their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Mizuho boosted their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research report on Monday, November 11th. One 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 stock. Based on data from MarketBeat, Cabot has an average rating of “Hold” and a consensus price target of $105.00.

Cabot Stock Performance

Shares of CBT opened at $107.20 on Thursday. The business’s 50 day moving average is $110.58 and its two-hundred day moving average is $102.51. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 0.93 and a beta of 1.20. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that Cabot Co. will post 7.68 EPS for the current fiscal year.

Cabot Announces Dividend

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 $0.43 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.60%. Cabot’s dividend payout ratio (DPR) is 25.52%.

Insider Activity

In other news, CFO Erica Mclaughlin sold 16,390 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the completion of the sale, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $6,235,011.36. The trade was a 21.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction that occurred 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 owns 50,627 shares of the company’s stock, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,398 shares of company stock worth $10,188,968. 3.07% of the stock is currently owned by insiders.

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.