Cabot Co. (NYSE:CBT) Stock Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Cabot Co. (NYSE:CBT) by 27.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,876 shares of the specialty chemicals company’s stock after selling 55,426 shares during the quarter. Principal Financial Group Inc.’s holdings in Cabot were worth $16,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC acquired a new stake in shares of Cabot in the third quarter valued at approximately $25,000. UMB Bank n.a. increased its position 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 acquiring an additional 130 shares during the period. CWM LLC increased 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 acquiring an additional 157 shares during the period. Farther Finance Advisors LLC boosted its position in Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cabot

In other news, EVP Hobart Kalkstein sold 34,759 shares of Cabot stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the transaction, the executive vice president now directly owns 50,627 shares of the company’s stock, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lisa M. Dumont sold 865 shares of the company’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 transaction of $96,655.10. Following the completion of the sale, the chief accounting officer now owns 9,742 shares of the company’s stock, valued at approximately $1,088,571.08. This trade represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 98,855 shares of company stock valued at $10,737,833 in the last three months. 3.07% of the stock is currently owned by corporate insiders.

Cabot Price Performance

NYSE:CBT opened at $108.81 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $110.16 and its 200 day moving average price is $102.13. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The firm has a market cap of $5.96 billion, a P/E ratio of 16.14, a PEG ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm earned $1.65 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Cabot Co. will post 7.7 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 is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.58%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. 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, November 11th. Finally, Mizuho raised their price objective on shares of Cabot from $103.00 to $122.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat, Cabot has an average rating of “Hold” and a consensus target price of $105.00.

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.