Ontario Teachers Pension Plan Board Has $1.18 Million Holdings in Cabot Co. (NYSE:CBT)

Ontario Teachers Pension Plan Board decreased its stake in Cabot Co. (NYSE:CBT) by 80.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,539 shares of the specialty chemicals company’s stock after selling 44,716 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Cabot were worth $1,178,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new stake in Cabot in the 3rd quarter valued at $25,000. UMB Bank n.a. boosted its stake in Cabot by 53.9% in the 3rd 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 in the last quarter. CWM LLC raised its position in Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the last quarter. Farther Finance Advisors LLC raised its position in 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 purchasing an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Cabot by 33.4% in 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. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Trading Down 0.5 %

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

Cabot (NYSE:CBT) last released 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 during the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. 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 company posted $1.65 EPS. As a group, equities research analysts expect that Cabot Co. will post 7.68 EPS for the current year.

Cabot Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a yield of 1.60%. Cabot’s dividend payout ratio is presently 25.52%.

Wall Street Analysts Forecast Growth

CBT has been the subject of several research analyst reports. Mizuho lifted their price objective on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research report on Monday, November 11th. Finally, UBS Group dropped their target price 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Cabot presently has an average rating of “Hold” and a consensus target price of $105.00.

Insider Activity at Cabot

In other Cabot news, EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the transaction, the executive vice president now directly owns 50,627 shares of the company’s stock, valued at approximately $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total value of $1,649,599.50. Following the transaction, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,398 shares of company stock worth $10,188,968. 3.07% of the stock is owned by insiders.

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.