Entropy Technologies LP Makes New Investment in Cabot Co. (NYSE:CBT)

Entropy Technologies LP purchased a new position in Cabot Co. (NYSE:CBT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,275 shares of the specialty chemicals company’s stock, valued at approximately $701,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in Cabot by 125.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock worth $1,006,000 after buying an additional 6,070 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Cabot by 571.9% in the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock worth $11,681,000 after buying an additional 108,197 shares during the last quarter. Tidal Investments LLC grew its position in Cabot by 101.7% in the first quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock worth $1,669,000 after buying an additional 9,131 shares during the last quarter. Atria Investments Inc purchased a new position in Cabot during the 1st quarter worth approximately $1,592,000. Finally, Oppenheimer Asset Management Inc. grew its position in Cabot by 24.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 42,240 shares of the specialty chemicals company’s stock worth $3,881,000 after purchasing an additional 8,175 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 331,174 shares in the company, 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 can be accessed through the SEC website. Also, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the transaction, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. This trade represents a 8.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 98,855 shares of company stock worth $10,737,833 in the last quarter. 3.07% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Mizuho lifted their price objective on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. cut shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research report on Monday. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $105.00.

Cabot Stock Down 1.6 %

CBT stock opened at $109.20 on Friday. 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 1 year low of $70.63 and a 1 year high of $117.46. The company has a fifty day simple moving average of $109.97 and a 200 day simple moving average of $102.03. The firm has a market cap of $5.99 billion, a PE ratio of 16.20, a PEG ratio of 0.96 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). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $1.65 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts anticipate that Cabot Co. will post 7.7 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently announced 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 1.58%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

About Cabot

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.