Fiduciary Trust Co Sells 2,880 Shares of Cabot Co. (NYSE:CBT)

Fiduciary Trust Co trimmed its holdings in shares of Cabot Co. (NYSE:CBT) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 554,070 shares of the specialty chemicals company’s stock after selling 2,880 shares during the quarter. Cabot makes up about 0.9% of Fiduciary Trust Co’s investment portfolio, making the stock its 22nd largest holding. Fiduciary Trust Co’s holdings in Cabot were worth $61,928,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CBT. Lazard Asset Management LLC grew its position in Cabot by 460.6% during the first quarter. Lazard Asset Management LLC now owns 2,007 shares of the specialty chemicals company’s stock valued at $185,000 after buying an additional 1,649 shares during the period. Price T Rowe Associates Inc. MD grew its position in Cabot by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,375 shares of the specialty chemicals company’s stock valued at $3,539,000 after buying an additional 1,788 shares during the period. Tidal Investments LLC grew its position in Cabot by 101.7% during the first quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock valued at $1,669,000 after buying an additional 9,131 shares during the period. Atria Investments Inc purchased a new position in Cabot during the first quarter valued at approximately $1,592,000. Finally, First Hawaiian Bank purchased a new position in Cabot during the second quarter valued at approximately $269,000. 93.18% of the stock is currently owned by institutional investors.

Cabot Price Performance

CBT stock opened at $109.50 on Thursday. Cabot Co. has a one year low of $70.63 and a one year high of $117.46. The company’s fifty day moving average price is $111.04 and its 200-day moving average price is $102.82. 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 company has a market capitalization of $5.96 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.20.

Cabot (NYSE:CBT) last released its 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 during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $1.65 EPS. Cabot’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Cabot Co. will post 7.67 EPS for the current fiscal 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 paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 29th. Cabot’s payout ratio is 25.52%.

Insider Activity at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 331,174 shares of the company’s stock, valued at $33,630,719.70. This represents a 7.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeff Ji Zhu sold 14,566 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 69,449 shares in the company, valued at approximately $7,865,099.25. The trade was a 17.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,807 shares of company stock valued at $8,352,941 over the last 90 days. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.