Cabot Co. (NYSE:CBT) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in shares of Cabot Co. (NYSE:CBT) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,484 shares of the specialty chemicals company’s stock after buying an additional 1,244 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Cabot worth $4,860,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC raised its position in Cabot by 2.4% during the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after buying an additional 80,096 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Cabot by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after purchasing an additional 4,437 shares during the period. American Century Companies Inc. raised its stake in shares of Cabot by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock worth $89,750,000 after buying an additional 66,171 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Cabot by 5.9% in the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after buying an additional 51,178 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Cabot by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock valued at $63,733,000 after buying an additional 11,986 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Monday. 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 report on Tuesday, August 6th. Finally, Mizuho boosted their price target on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Cabot presently has an average rating of “Hold” and a consensus price target of $105.00.

Insiders Place Their Bets

In related news, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total value of $548,865.06. Following the completion of the sale, the executive vice president now directly owns 61,688 shares in the company, valued at approximately $6,204,579.04. The trade was a 8.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This trade represents a 7.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,855 shares of company stock valued at $10,737,833 in the last quarter. 3.07% of the stock is currently owned by company insiders.

Cabot Price Performance

CBT stock opened at $109.20 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The stock’s 50 day moving average price is $109.97 and its 200 day moving average price is $102.03. The firm 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 Co. has a 1 year low of $70.63 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last posted 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). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Cabot Co. will post 7.7 earnings per share for the current fiscal year.

Cabot Announces Dividend

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

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.