Banque Cantonale Vaudoise Reduces Stock Position in Cabot Co. (NYSE:CBT)

Banque Cantonale Vaudoise cut its holdings in shares of Cabot Co. (NYSE:CBT) by 35.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 573 shares of the specialty chemicals company’s stock after selling 309 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Cabot were worth $64,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolff Wiese Magana LLC purchased a new stake in shares of Cabot in the 3rd quarter worth about $25,000. CWM LLC raised its holdings in Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares in the last quarter. UMB Bank n.a. raised its holdings in Cabot by 53.9% in the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after buying an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of 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 target on the stock. in a research note on Monday, November 11th. Finally, UBS Group reduced their price objective 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 issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Cabot presently has an average rating of “Hold” and a consensus target price of $105.00.

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. The trade was a 7.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,398 shares of company stock valued at $10,188,968. 3.07% of the stock is owned by insiders.

Cabot Trading Up 1.6 %

Shares of NYSE CBT opened at $110.36 on Friday. The firm’s 50 day moving average price is $110.81 and its 200-day moving average price is $102.67. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. 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 company has a market cap of $6.00 billion, a PE ratio of 16.37, a P/E/G ratio of 0.93 and a beta of 1.20.

Cabot (NYSE:CBT) last released 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). The business 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%. During the same period last year, the company posted $1.65 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts expect that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Dividend Announcement

The firm 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 annualized dividend and a yield of 1.56%. Cabot’s payout ratio is 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.