Atria Investments Inc Acquires 985 Shares of Cabot Co. (NYSE:CBT)

Atria Investments Inc increased its position in shares of Cabot Co. (NYSE:CBT) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,029 shares of the specialty chemicals company’s stock after buying an additional 985 shares during the quarter. Atria Investments Inc’s holdings in Cabot were worth $2,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janney Montgomery Scott LLC lifted its position in shares of Cabot by 125.4% during the 1st 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in Cabot by 571.9% during the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after acquiring an additional 108,197 shares in the last quarter. Tidal Investments LLC raised its position in shares of 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 in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Cabot by 24.0% in the second 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 during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of 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 acquiring an additional 80,096 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Insider Buying and Selling

In related news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the transaction, the chief accounting officer now directly owns 9,742 shares in the company, valued at approximately $1,088,571.08. This represents a 8.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 14,566 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total value of $1,649,599.50. Following the completion of the transaction, the executive vice president now directly owns 69,449 shares in the company, valued at $7,865,099.25. This trade represents a 17.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,855 shares of company stock worth $10,737,833. Corporate insiders own 3.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. UBS Group dropped their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Mizuho upped 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. Finally, JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Cabot presently has an average rating of “Hold” and an average target price of $105.00.

Cabot Stock Performance

CBT stock opened at $109.20 on Friday. The stock’s fifty day moving average price is $109.97 and its 200-day moving average price is $102.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The company has a market cap of $5.99 billion, a P/E ratio of 16.20, a price-to-earnings-growth 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 announced its quarterly earnings data on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $1 billion for 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%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. On average, equities analysts forecast that Cabot Co. will post 7.7 earnings per share for the current year.

Cabot Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.58%. Cabot’s dividend payout ratio is currently 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.