Loomis Sayles & Co. L P Lowers Stake in Cabot Co. (NYSE:CBT)

Loomis Sayles & Co. L P cut its stake in Cabot Co. (NYSE:CBT) by 3.8% during the third quarter, HoldingsChannel reports. The fund owned 155,355 shares of the specialty chemicals company’s stock after selling 6,097 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Cabot were worth $17,364,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. First Citizens Bank & Trust Co. grew its stake in 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 valued at $606,000 after purchasing an additional 109 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Cabot by 22.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after buying an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Cabot by 33.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 119 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 130 shares in the last quarter. Finally, Miller Howard Investments Inc. NY lifted its position in Cabot by 4.4% during the second quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after acquiring an additional 132 shares during the last quarter. 93.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CBT has been the topic of several analyst reports. Mizuho lifted their price target on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $105.00.

Insiders Place Their Bets

In related news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This represents a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeff Ji Zhu sold 14,566 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the sale, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at $7,865,099.25. The trade was a 17.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,807 shares of company stock worth $8,352,941. 3.07% of the stock is owned by corporate insiders.

Cabot Trading Down 2.6 %

NYSE:CBT opened at $110.59 on Wednesday. The company has a market capitalization of $6.01 billion, a P/E ratio of 16.41, a PEG ratio of 0.94 and a beta of 1.20. 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 Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The firm has a fifty day simple moving average of $110.97 and a 200-day simple moving average of $102.76.

Cabot (NYSE:CBT) last released its earnings results 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). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $1.65 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given 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 dividend yield of 1.56%. Cabot’s dividend payout ratio (DPR) is currently 25.52%.

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.