Citigroup Inc. Increases Stock Holdings in Cabot Co. (NYSE:CBT)

Citigroup Inc. boosted its position in shares of Cabot Co. (NYSE:CBT) by 221.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,707 shares of the specialty chemicals company’s stock after acquiring an additional 41,121 shares during the period. Citigroup Inc. owned 0.11% of Cabot worth $6,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC bought a new position in shares of Cabot in the third quarter worth $25,000. CWM LLC grew its position in Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 157 shares in the last quarter. UMB Bank n.a. increased its stake in Cabot by 53.9% in 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 during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position 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 acquiring an additional 119 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their target price 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 objective for the company. in a report on Monday, November 11th. Finally, Mizuho increased their target price on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $105.00.

Cabot Trading Up 0.5 %

CBT stock opened at $109.62 on Friday. Cabot Co. has a one year low of $70.63 and a one year high of $117.46. The company has a market capitalization of $5.96 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.94 and a beta of 1.20. The company’s 50 day moving average price is $111.02 and its two-hundred day moving average price is $102.97. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share 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 the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts predict that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 annualized dividend and a yield of 1.57%. Cabot’s payout ratio is 25.52%.

Insiders Place Their Bets

In related news, 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 value of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at $33,630,719.70. The trade was a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now directly owns 50,627 shares in the company, valued at approximately $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 75,807 shares of company stock valued at $8,352,941 in the last ninety days. Company insiders own 3.07% of the company’s stock.

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.