Cabot Co. (NYSE:CBT) Short Interest Update

Cabot Co. (NYSE:CBT) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,570,000 shares, a growth of 9.4% from the October 15th total of 2,350,000 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 363,100 shares, the days-to-cover ratio is presently 7.1 days.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective for the company. in a research note on Monday, November 11th. UBS Group dropped their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Finally, Mizuho raised their price target on Cabot from $103.00 to $122.00 and gave the stock 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.00.

Insiders Place Their Bets

In other news, CAO Lisa M. Dumont sold 865 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the transaction, the chief accounting officer now owns 9,742 shares of the company’s stock, valued at approximately $1,088,571.08. The trade was a 8.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at $10,194,240. The trade was a 1.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,855 shares of company stock valued at $10,737,833 in the last three months. 3.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cabot

Hedge funds have recently bought and sold shares of the business. Wolff Wiese Magana LLC bought a new position in Cabot in the 3rd quarter valued at $25,000. CWM LLC grew 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 during the last quarter. UMB Bank n.a. grew its position in 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 acquiring an additional 130 shares during the last quarter. Farther Finance Advisors LLC grew its position in Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock valued at $47,000 after acquiring an additional 277 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Cabot by 33.4% in the 2nd 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. Institutional investors own 93.18% of the company’s stock.

Cabot Trading Up 0.0 %

CBT stock traded up $0.01 on Monday, reaching $108.82. The company’s stock had a trading volume of 191,822 shares, compared to its average volume of 343,265. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08. The firm has a market cap of $5.97 billion, a PE ratio of 16.14, a PEG ratio of 0.93 and a beta of 1.20. The business has a fifty day simple moving average of $110.16 and a two-hundred day simple moving average of $102.28. Cabot has a 12-month low of $70.63 and a 12-month high of $117.46.

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 analysts’ consensus estimates of $1.81 by ($0.01). Cabot had a net margin of 9.51% and a return on equity of 26.60%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $1.65 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Cabot will post 7.68 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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Friday, November 29th. Cabot’s payout ratio is 25.52%.

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.