Copeland Capital Management LLC Buys 146,179 Shares of Cabot Co. (NYSE:CBT)

Copeland Capital Management LLC boosted its stake in shares of Cabot Co. (NYSE:CBT) by 30.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,253 shares of the specialty chemicals company’s stock after purchasing an additional 146,179 shares during the quarter. Cabot comprises 1.2% of Copeland Capital Management LLC’s portfolio, making the stock its 29th largest holding. Copeland Capital Management LLC owned approximately 1.13% of Cabot worth $69,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Cabot by 28.8% during the 1st quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock worth $4,727,000 after buying an additional 11,471 shares during the period. Leeward Investments LLC MA increased its stake in shares of Cabot by 41.1% in the first quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock worth $15,085,000 after purchasing an additional 47,682 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Cabot by 125.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock worth $1,006,000 after purchasing an additional 6,070 shares during the last quarter. Sei Investments Co. boosted its stake in Cabot by 6.1% during the 1st quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after purchasing an additional 49,467 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Cabot by 571.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after buying an additional 108,197 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insiders Place Their Bets

In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Hobart Kalkstein sold 5,457 shares of Cabot stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the transaction, the executive vice president now owns 96,000 shares in the company, valued at approximately $10,194,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,939 shares of company stock valued at $7,308,812. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CBT shares. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. UBS Group dropped their price objective 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $101.75.

Cabot Stock Performance

Shares of NYSE:CBT opened at $112.86 on Tuesday. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19. The business’s fifty day moving average price is $106.01 and its two-hundred day moving average price is $99.76. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $117.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45.

Cabot (NYSE:CBT) last announced its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. As a group, analysts predict that Cabot Co. will post 7.07 EPS for the current fiscal year.

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.