Janney Montgomery Scott LLC Sells 227 Shares of Cabot Co. (NYSE:CBT)

Janney Montgomery Scott LLC lowered its stake in Cabot Co. (NYSE:CBT) by 1.9% during the third quarter, Holdings Channel reports. The firm owned 11,520 shares of the specialty chemicals company’s stock after selling 227 shares during the period. Janney Montgomery Scott LLC’s holdings in Cabot were worth $1,288,000 at the end of the most recent reporting period.

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

Insider Activity at Cabot

In other news, EVP Hobart Kalkstein sold 34,759 shares of the stock in a transaction on Monday, November 11th. The shares were 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 $5,833,749.21. This represents a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares in the company, valued at approximately $10,194,240. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 98,855 shares of company stock worth $10,737,833 over the last three months. Company insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CBT. JPMorgan Chase & Co. cut Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a report on Monday. Mizuho increased their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group decreased their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a 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 assigned a buy rating to the stock. According to MarketBeat.com, Cabot has a consensus rating of “Hold” and an average target price of $105.00.

Cabot Price Performance

Shares of CBT opened at $109.20 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 stock 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 Co. has a 12-month low of $70.63 and a 12-month high of $117.46. The business has a 50-day simple moving average of $109.97 and a two-hundred day simple moving average of $102.03.

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 firm 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 company earned $1.65 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts anticipate that Cabot Co. will post 7.7 earnings per share 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 paid a $0.43 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.72 annualized dividend and a dividend yield of 1.58%. Cabot’s dividend payout ratio is 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.