Tidal Investments LLC Raises Stock Holdings in Cabot Co. (NYSE:CBT)

Tidal Investments LLC lifted its holdings in shares of Cabot Co. (NYSE:CBT) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,917 shares of the specialty chemicals company’s stock after acquiring an additional 340 shares during the period. Tidal Investments LLC’s holdings in Cabot were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CBT. Wolff Wiese Magana LLC acquired a new position in Cabot in the third quarter valued at $25,000. CWM LLC increased 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 period. UMB Bank n.a. raised its stake in Cabot by 53.9% during 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 lifted its position in 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 during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 119 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Trading Down 5.1 %

NYSE:CBT opened at $94.97 on Thursday. Cabot Co. has a 1 year low of $70.63 and a 1 year high of $117.46. 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 stock has a fifty day moving average price of $109.55 and a two-hundred day moving average price of $103.26. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.90 and a beta of 1.18.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.01). The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. As a group, sell-side analysts anticipate that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot declared that its board has authorized a share buyback program on Tuesday, December 3rd that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, November 29th. Cabot’s dividend payout ratio is currently 25.52%.

Insider Activity at Cabot

In other Cabot news, EVP Jeff Ji Zhu sold 14,566 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 69,449 shares in the company, valued at approximately $7,865,099.25. This trade represents a 17.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $111.74, for a total transaction of $96,655.10. Following the completion of the sale, the chief accounting officer now directly owns 9,742 shares in the company, valued at $1,088,571.08. This trade represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,190 shares of company stock valued at $5,751,534 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CBT. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price target for the company. in a report on Monday, November 11th. Mizuho raised their target price on shares of Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.00.

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.