Eventide Asset Management LLC Purchases 20,273 Shares of Cabot Co. (NYSE:CBT)

Eventide Asset Management LLC raised its position in Cabot Co. (NYSE:CBT) by 19.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,820 shares of the specialty chemicals company’s stock after buying an additional 20,273 shares during the quarter. Eventide Asset Management LLC owned about 0.22% of Cabot worth $13,728,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group decreased 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. Mizuho lifted their price target 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, JPMorgan Chase & Co. lowered shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.00.

Insider Buying and Selling

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

Cabot Trading Down 1.0 %

Shares of Cabot stock opened at $109.50 on Friday. The firm has a market capitalization of $5.96 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.94 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 firm’s 50 day moving average is $111.03 and its 200 day moving average is $102.91. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS 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 for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts forecast that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 annualized dividend and a yield of 1.57%. Cabot’s dividend payout ratio is presently 25.52%.

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.