Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Cabot Co. (NYSE:CBT)

Teachers Retirement System of The State of Kentucky reduced its position in Cabot Co. (NYSE:CBT) by 6.3% in the third quarter, Holdings Channel.com reports. The firm owned 42,113 shares of the specialty chemicals company’s stock after selling 2,837 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cabot were worth $4,708,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC bought a new position in shares of Cabot during the 3rd quarter valued at $25,000. CWM LLC boosted its position in Cabot by 60.6% during the second 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. grew its stake in shares of Cabot by 53.9% during the third 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 last quarter. Farther Finance Advisors LLC lifted its stake in shares of 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 acquiring an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Cabot by 33.4% during the 2nd 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 currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total value of $96,655.10. Following the sale, the chief accounting officer now directly owns 9,742 shares of the company’s stock, valued at $1,088,571.08. This represents a 8.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the completion of the transaction, the executive vice president now owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. The trade was a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,190 shares of company stock valued at $5,751,534 over the last three months. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Mizuho lifted their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.00.

Cabot Trading Down 0.7 %

CBT opened at $103.38 on Friday. Cabot Co. has a one year low of $70.63 and a one year high of $117.46. 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 business has a 50 day simple moving average of $110.25 and a two-hundred day simple moving average of $103.29. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.90 and a beta of 1.18.

Cabot (NYSE:CBT) last announced its quarterly earnings results 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 business had revenue of $1 billion during 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.65 EPS. Analysts predict that Cabot Co. will post 7.67 EPS for the current year.

Cabot declared that its Board of Directors has authorized a share buyback plan on Tuesday, December 3rd that allows the company to buyback 10,000,000 shares. This buyback authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Friday, November 29th. Cabot’s dividend payout ratio 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.