Bridgewater Associates LP Acquires 5,881 Shares of Cabot Co. (NYSE:CBT)

Bridgewater Associates LP raised its holdings in shares of Cabot Co. (NYSE:CBT) by 11.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,063 shares of the specialty chemicals company’s stock after buying an additional 5,881 shares during the period. Bridgewater Associates LP owned about 0.11% of Cabot worth $6,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CBT. Wolff Wiese Magana LLC purchased a new stake in Cabot during the 3rd quarter valued at about $25,000. CWM LLC boosted its stake in shares of Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the period. UMB Bank n.a. grew its holdings 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 purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 277 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares during the last quarter. 93.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CBT. Mizuho boosted their price objective on shares of Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target on the stock. in a report on Monday, November 11th. Finally, UBS Group lowered their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.00.

Insider Buying and Selling at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the transaction, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This trade represents a 7.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lisa M. Dumont sold 865 shares of Cabot stock in a transaction that occurred on 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 owns 9,742 shares of the company’s stock, valued at $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,807 shares of company stock valued at $8,352,941. 3.07% of the stock is currently owned by company insiders.

Cabot Trading Up 0.5 %

Shares of CBT opened at $109.62 on Friday. Cabot Co. has a 1-year low of $70.63 and a 1-year high of $117.46. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $111.03 and its 200-day moving average price is $102.91. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT) last posted its quarterly earnings data 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). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Cabot Co. will post 7.67 EPS for the current year.

Cabot Announces Dividend

The company also recently disclosed 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 1.57%. Cabot’s dividend payout ratio (DPR) is 25.52%.

Cabot Profile

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.