Algert Global LLC Acquires 14,750 Shares of Cabot Co. (NYSE:CBT)

Algert Global LLC increased its stake in shares of Cabot Co. (NYSE:CBT) by 50.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,712 shares of the specialty chemicals company’s stock after acquiring an additional 14,750 shares during the quarter. Algert Global LLC owned about 0.08% of Cabot worth $4,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of Cabot by 8.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,464 shares of the specialty chemicals company’s stock valued at $226,000 after acquiring an additional 199 shares in the last quarter. Lazard Asset Management LLC boosted its position in Cabot by 460.6% in the first quarter. Lazard Asset Management LLC now owns 2,007 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 1,649 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Cabot by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,375 shares of the specialty chemicals company’s stock worth $3,539,000 after buying an additional 1,788 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Cabot by 101.7% in the first quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after buying an additional 9,131 shares in the last quarter. Finally, Delphi Management Inc. MA raised its stake in shares of Cabot by 218.8% in the first quarter. Delphi Management Inc. MA now owns 17,201 shares of the specialty chemicals company’s stock worth $1,586,000 after acquiring an additional 11,805 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CBT. UBS Group dropped their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Mizuho upped their price target on shares of Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research report on Monday, November 11th. One investment 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 currently has an average rating of “Hold” and a consensus price target of $105.00.

Cabot Stock Performance

NYSE CBT opened at $110.36 on Monday. The firm’s 50 day simple moving average is $110.81 and its 200 day simple moving average is $102.68. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 0.93 and a beta of 1.20. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68.

Cabot (NYSE:CBT) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The firm 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%. Cabot’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 business posted $1.65 earnings per share. As a group, research analysts expect that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.56%. Cabot’s dividend payout ratio (DPR) is 25.52%.

Insider Buying and Selling

In related news, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the transaction, the chief accounting officer now owns 9,742 shares of the company’s stock, valued at $1,088,571.08. This trade represents a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hobart Kalkstein sold 34,759 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the sale, the executive vice president now directly owns 50,627 shares in the company, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,197 shares of company stock valued at $10,061,434 over the last ninety days. 3.07% of the stock is owned by company insiders.

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.