Blue Trust Inc. Buys 947 Shares of Cabot Co. (NYSE:CBT)

Blue Trust Inc. raised its stake in Cabot Co. (NYSE:CBT) by 31.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,919 shares of the specialty chemicals company’s stock after buying an additional 947 shares during the quarter. Blue Trust Inc.’s holdings in Cabot were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CBT. EverSource Wealth Advisors LLC lifted its stake in Cabot by 143.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 196 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Cabot by 81.8% in the fourth 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 in the last quarter. CWM LLC lifted its position in shares of Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Cabot by 372.0% in the fourth 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 in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Cabot in the fourth quarter worth $44,000. Institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling

In related news, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the transaction, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at $5,968,839.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CBT shares. JPMorgan Chase & Co. boosted their price objective on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group lowered their target price 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. StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Finally, Mizuho upped their price target on shares of Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.75.

Cabot Stock Performance

Shares of CBT traded up $0.89 during trading hours on Friday, hitting $99.26. The company had a trading volume of 310,400 shares, compared to its average volume of 334,559. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.96 and a beta of 1.20. The business has a fifty day moving average of $95.48 and a 200-day moving average of $92.48. Cabot Co. has a 12 month low of $65.10 and a 12 month high of $103.57. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last issued its quarterly earnings data 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. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. Equities analysts anticipate that Cabot Co. will post 6.78 EPS for the current fiscal year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, August 30th. Cabot’s payout ratio is presently 21.77%.

About Cabot

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.