Aigen Investment Management LP Makes New $482,000 Investment in Cabot Co. (NYSE:CBT)

Aigen Investment Management LP purchased a new stake in shares of Cabot Co. (NYSE:CBT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,313 shares of the specialty chemicals company’s stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. First Citizens Bank & Trust Co. raised its stake in shares of Cabot by 2.1% in the third quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock worth $606,000 after purchasing an additional 109 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 119 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the period. Miller Howard Investments Inc. NY boosted its holdings in shares of Cabot by 4.4% in the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock worth $291,000 after buying an additional 132 shares during the last quarter. Finally, CWM LLC grew its position in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after buying an additional 148 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Erica Mclaughlin sold 16,390 shares of Cabot stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $104.24, for a total value of $1,708,493.60. Following the completion of the transaction, the chief financial officer now owns 59,814 shares in the company, valued at approximately $6,235,011.36. The trade was a 21.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total value of $96,655.10. Following the transaction, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $1,088,571.08. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,855 shares of company stock worth $10,737,833. Insiders own 3.07% of the company’s stock.

Cabot Trading Down 1.6 %

Cabot stock opened at $109.20 on Friday. 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 firm’s 50 day moving average price is $109.97 and its 200-day moving average price is $102.03. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46. The stock has a market cap of $5.99 billion, a P/E ratio of 16.20, a PEG ratio of 0.96 and a beta of 1.20.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business earned $1.65 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that Cabot Co. will post 7.7 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Analyst Ratings Changes

CBT has been the topic of several recent research reports. JPMorgan Chase & Co. downgraded shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a research report on Monday. UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Finally, Mizuho upped their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.00.

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.