2,019 Shares in Cabot Co. (NYSE:CBT) Purchased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. acquired a new position in Cabot Co. (NYSE:CBT) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 2,019 shares of the specialty chemicals company’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBT. Wolff Wiese Magana LLC bought a new position in shares of Cabot during the third quarter valued at approximately $25,000. CWM LLC grew its position 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 acquiring an additional 157 shares during the last quarter. UMB Bank n.a. increased its stake in Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the period. Farther Finance Advisors LLC lifted its position 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 worth $47,000 after purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after purchasing an additional 119 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cabot

In related news, EVP Jeff Ji Zhu sold 14,566 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the completion of the sale, the executive vice president now owns 69,449 shares of the company’s stock, valued at $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 50,190 shares of company stock valued at $5,751,534 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CBT shares. 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. JPMorgan Chase & Co. downgraded shares of 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cabot currently has a consensus rating of “Hold” and a consensus target price of $105.00.

Cabot Stock Down 1.4 %

Shares of Cabot stock opened at $101.97 on Tuesday. 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 stock has a market cap of $5.55 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 0.90 and a beta of 1.18. The firm’s 50-day moving average is $110.07 and its two-hundred day moving average is $103.33. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last released its quarterly earnings data 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). The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. Cabot’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 earnings per share. As a group, research analysts expect that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 3rd that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, November 29th. Cabot’s dividend payout ratio (DPR) 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.