Quest Partners LLC Has $483,000 Holdings in Cabot Co. (NYSE:CBT)

Quest Partners LLC trimmed its holdings in shares of Cabot Co. (NYSE:CBT) by 83.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,321 shares of the specialty chemicals company’s stock after selling 22,578 shares during the period. Quest Partners LLC’s holdings in Cabot were worth $483,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new position in shares of Cabot in the third quarter valued at about $25,000. CWM LLC increased its position in Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 157 shares in the last quarter. UMB Bank n.a. raised its stake in shares of 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 acquiring an additional 130 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Cabot by 33.4% in the second 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 own 93.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CBT shares. Mizuho lifted their price objective on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. 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 note on Monday, November 11th. Finally, UBS Group dropped their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $105.00.

Cabot Stock Performance

Shares of CBT stock opened at $110.36 on Friday. The stock has a market cap of $6.00 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20. The stock has a 50-day moving average of $110.81 and a 200-day moving average of $102.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. Cabot Co. has a one year low of $70.63 and a one year high of $117.46.

Cabot (NYSE:CBT) last posted its 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). The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Cabot had a return on equity of 26.60% and a net margin of 9.51%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. As a group, sell-side analysts expect that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 dividend on an annualized basis and a yield of 1.56%. Cabot’s payout ratio is 25.52%.

Insider Transactions at Cabot

In other news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total value of $96,655.10. Following the completion of the transaction, the chief accounting officer now owns 9,742 shares in the company, valued at $1,088,571.08. This represents a 8.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,398 shares of company stock valued at $10,188,968 over the last 90 days. 3.07% of the stock is owned by company insiders.

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.