Baldwin Investment Management LLC Decreases Stock Position in Cabot Co. (NYSE:CBT)

Baldwin Investment Management LLC reduced its holdings in shares of Cabot Co. (NYSE:CBT) by 31.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,555 shares of the specialty chemicals company’s stock after selling 5,629 shares during the period. Baldwin Investment Management LLC’s holdings in Cabot were worth $1,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Citizens Bank & Trust Co. grew its holdings in Cabot by 2.1% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 5,426 shares of the specialty chemicals company’s stock valued at $606,000 after buying an additional 109 shares during the period. First Horizon Advisors Inc. grew its holdings in Cabot by 22.0% in the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after purchasing an additional 117 shares during the period. EverSource Wealth Advisors LLC increased its position in Cabot by 33.4% during the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. UMB Bank n.a. raised its stake in Cabot by 53.9% during the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the period. Finally, Miller Howard Investments Inc. NY boosted its holdings in shares of Cabot by 4.4% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,162 shares of the specialty chemicals company’s stock valued at $291,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insider Activity at Cabot

In related news, EVP Jeff Ji Zhu sold 14,566 shares of the stock in a transaction dated Wednesday, November 13th. The stock was 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 owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. This represents a 17.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the sale, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 7.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 75,807 shares of company stock valued at $8,352,941. Corporate insiders own 3.07% of the company’s stock.

Cabot Trading Down 2.6 %

NYSE:CBT opened at $110.59 on Wednesday. The business’s 50-day moving average is $110.97 and its two-hundred day moving average is $102.76. The firm has a market capitalization of $6.01 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.97 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 company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $1.65 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Research analysts predict that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 1.56%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Wall Street Analyst Weigh In

A number of analysts have recently commented 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 report on Tuesday, August 6th. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a report on Monday, November 11th. Finally, Mizuho boosted their target price on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. One research 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. Based on data from MarketBeat, Cabot currently has a consensus rating of “Hold” and a consensus price target of $105.00.

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.