Dynamic Technology Lab Private Ltd Lowers Stake in Cabot Co. (NYSE:CBT)

Dynamic Technology Lab Private Ltd cut its stake in Cabot Co. (NYSE:CBT) by 70.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,421 shares of the specialty chemicals company’s stock after selling 22,586 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Cabot were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CBT. Wolff Wiese Magana LLC purchased a new position in Cabot in the third quarter valued at about $25,000. UMB Bank n.a. boosted its holdings in shares of Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 130 shares in the last quarter. CWM LLC grew its position in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 157 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 277 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 valued at $48,000 after acquiring an additional 119 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of 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. UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Mizuho increased their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.00.

Cabot Trading Down 2.6 %

NYSE:CBT opened at $110.59 on Wednesday. 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 has a fifty day simple moving average of $110.97 and a 200-day simple moving average of $102.76. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The company has a market capitalization of $6.01 billion, a P/E ratio of 16.41, a PEG ratio of 0.94 and a beta of 1.20.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The firm had revenue of $1 billion for 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 business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 EPS. On average, equities research analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 annualized dividend and a yield of 1.56%. Cabot’s dividend payout ratio (DPR) is presently 25.52%.

Insiders Place Their Bets

In other Cabot news, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the sale, the chief accounting officer now owns 9,742 shares in the company, valued at approximately $1,088,571.08. This represents a 8.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeff Ji Zhu sold 14,566 shares of Cabot stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $113.25, for a total transaction of $1,649,599.50. Following the transaction, the executive vice president now directly owns 69,449 shares of the company’s stock, valued at approximately $7,865,099.25. This trade represents a 17.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,807 shares of company stock valued at $8,352,941. 3.07% of the stock is owned by insiders.

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.