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

Moran Wealth Management LLC increased its stake in shares of Cabot Co. (NYSE:CBT) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,116 shares of the specialty chemicals company’s stock after purchasing an additional 178 shares during the quarter. Moran Wealth Management LLC owned 0.11% of Cabot worth $6,943,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wolff Wiese Magana LLC acquired a new stake in Cabot in the third quarter valued at $25,000. CWM LLC lifted its holdings in Cabot by 60.6% in the second 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 period. UMB Bank n.a. lifted its holdings in Cabot by 53.9% in the third 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 period. Farther Finance Advisors LLC lifted its holdings in Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC lifted 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 valued at $48,000 after acquiring an additional 119 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CBT shares. JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research report on Monday, November 11th. Mizuho raised their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, UBS Group dropped their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. One equities 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. Based on data from MarketBeat.com, Cabot has a consensus rating of “Hold” and a consensus price target of $105.00.

Insider Buying and Selling at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Erica Mclaughlin sold 16,390 shares of Cabot stock in a transaction dated Tuesday, August 27th. The shares were 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 owns 59,814 shares of the company’s stock, valued at $6,235,011.36. This trade represents a 21.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,398 shares of company stock worth $10,188,968 in the last 90 days. 3.07% of the stock is owned by company insiders.

Cabot Trading Down 0.5 %

Cabot stock opened at $107.20 on Thursday. The stock has a market cap of $5.88 billion, a PE ratio of 15.90, a P/E/G ratio of 0.93 and a beta of 1.20. The stock has a 50-day moving average price of $110.58 and a 200 day moving average price of $102.51. Cabot Co. has a 52 week low of $70.63 and a 52 week high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. Equities research analysts predict that Cabot Co. will post 7.68 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.60%. The ex-dividend date is Friday, November 29th. Cabot’s dividend payout ratio (DPR) is 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.