Loomis Sayles & Co. L P Sells 6,097 Shares of Cabot Co. (NYSE:CBT)

Loomis Sayles & Co. L P decreased its holdings in Cabot Co. (NYSE:CBT) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,355 shares of the specialty chemicals company’s stock after selling 6,097 shares during the period. Loomis Sayles & Co. L P owned about 0.28% of Cabot worth $17,364,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new stake in shares of Cabot during the third quarter valued at $25,000. UMB Bank n.a. boosted its holdings in shares of Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. CWM LLC grew its stake in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 157 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling

In other Cabot news, EVP Hobart Kalkstein sold 34,759 shares of Cabot stock in a transaction on Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now directly owns 50,627 shares of the company’s stock, valued at $5,833,749.21. The trade was a 40.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeff Ji Zhu sold 14,566 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total value of $1,649,599.50. Following the transaction, the executive vice president now directly owns 69,449 shares in the company, valued at $7,865,099.25. The trade was a 17.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,807 shares of company stock worth $8,352,941 over the last three months. 3.07% of the stock is owned by insiders.

Cabot Trading Down 2.6 %

Shares of CBT stock opened at $110.59 on Wednesday. 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 stock has a fifty day simple moving average of $110.97 and a two-hundred day simple moving average of $102.76. The firm has a market capitalization of $6.01 billion, a PE ratio of 16.41, a PEG ratio of 0.94 and a beta of 1.20. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Announces Dividend

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 1.56%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CBT shares. UBS Group decreased their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Mizuho upped their price objective on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.00.

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.