Cabot Co. (NYSE:CBT) Shares Bought by Patten & Patten Inc. TN

Patten & Patten Inc. TN grew its stake in Cabot Co. (NYSE:CBT) by 31.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,380 shares of the specialty chemicals company’s stock after purchasing an additional 800 shares during the period. Patten & Patten Inc. TN’s holdings in Cabot were worth $312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CBT. Vanguard Group Inc. grew its position in shares of Cabot by 0.4% during the third quarter. Vanguard Group Inc. now owns 6,361,129 shares of the specialty chemicals company’s stock worth $440,635,000 after acquiring an additional 24,961 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Cabot by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,313,254 shares of the specialty chemicals company’s stock worth $109,664,000 after buying an additional 32,735 shares during the last quarter. Sei Investments Co. increased its position in Cabot by 6.1% in the 1st quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after acquiring an additional 49,467 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cabot by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,627 shares of the specialty chemicals company’s stock worth $56,331,000 after acquiring an additional 5,831 shares during the period. Finally, Norges Bank purchased a new position in shares of Cabot in the 4th quarter valued at approximately $41,471,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cabot

In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $101.73, for a total transaction of $1,400,211.72. Following the sale, the senior vice president now owns 34,312 shares in the company, valued at approximately $3,490,559.76. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.07% of the stock is currently owned by corporate insiders.

Cabot Trading Up 0.0 %

Shares of Cabot stock traded up $0.03 during trading hours on Tuesday, hitting $97.58. The company’s stock had a trading volume of 9,208 shares, compared to its average volume of 315,283. The business has a fifty day moving average of $97.11 and a 200 day moving average of $89.87. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. Cabot Co. has a 1-year low of $64.51 and a 1-year high of $103.49. The company has a market capitalization of $5.39 billion, a PE ratio of 12.35, a P/E/G ratio of 0.94 and a beta of 1.21.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 earnings per share. As a group, equities analysts forecast that Cabot Co. will post 6.78 EPS for the current year.

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, August 30th. Cabot’s dividend payout ratio is 21.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CBT shares. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Mizuho increased their target price on shares of Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. UBS Group boosted their price target on Cabot from $100.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Cabot from a “buy” rating to a “hold” rating and lifted their price target for the stock from $88.00 to $95.00 in a research note on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cabot presently has an average rating of “Moderate Buy” and a consensus target price of $91.80.

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.