Trust Co. of Vermont Sells 200 Shares of Cabot Co. (NYSE:CBT)

Trust Co. of Vermont cut its stake in Cabot Co. (NYSE:CBT) by 7.5% in the second quarter, Holdings Channel.com reports. The firm owned 2,472 shares of the specialty chemicals company’s stock after selling 200 shares during the quarter. Trust Co. of Vermont’s holdings in Cabot were worth $227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 196 shares during the period. Arlington Trust Co LLC acquired a new position in Cabot in the 4th quarter worth $34,000. Hexagon Capital Partners LLC boosted its stake in Cabot by 81.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 207 shares during the period. SRS Capital Advisors Inc. boosted its stake in Cabot by 372.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 398 shares during the period. Finally, GAMMA Investing LLC acquired a new position in Cabot in the 4th quarter worth $44,000. 93.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Mizuho increased their price objective on shares of Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft downgraded shares of Cabot from a “buy” rating to a “hold” rating and increased their price objective for the stock from $88.00 to $95.00 in a research note on Thursday, April 18th. Finally, UBS Group cut their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.80.

Cabot Stock Performance

Cabot stock traded down $2.45 during trading hours on Wednesday, hitting $98.75. The company had a trading volume of 246,459 shares, compared to its average volume of 330,698. The firm has a market cap of $5.46 billion, a PE ratio of 12.81, a PEG ratio of 0.96 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47. Cabot Co. has a one year low of $64.51 and a one year high of $103.49. The firm has a 50-day moving average of $95.95 and a 200 day moving average of $91.47.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the firm earned $1.42 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, sell-side analysts expect that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.74%. Cabot’s dividend payout ratio is presently 21.77%.

Insider Transactions at Cabot

In related news, SVP Karen A. Kalita sold 13,764 shares of Cabot stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.73, for a total value of $1,400,211.72. Following the transaction, the senior vice president now directly owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.07% of the company’s stock.

Cabot Company 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.