Cabot Co. (NYSE:CBT) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC trimmed its position in Cabot Co. (NYSE:CBT) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,339 shares of the specialty chemicals company’s stock after selling 1,993 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Cabot were worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its stake in Cabot by 5.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,371 shares of the specialty chemicals company’s stock valued at $562,000 after purchasing an additional 353 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Cabot during the 2nd quarter valued at about $227,000. Intech Investment Management LLC bought a new position in Cabot in the second quarter worth about $268,000. EverSource Wealth Advisors LLC boosted its stake in Cabot by 33.4% in 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 period. Finally, Marshall Wace LLP bought a new position in shares of Cabot during the second quarter valued at approximately $432,000. 93.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. 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. Mizuho cut their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One 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, Cabot has a consensus rating of “Hold” and a consensus target price of $102.00.

Cabot Stock Down 0.9 %

CBT opened at $91.70 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. Cabot Co. has a 12 month low of $70.63 and a 12 month high of $117.46. The stock’s 50 day moving average price is $98.77 and its 200 day moving average price is $102.38. The stock has a market cap of $4.99 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.78 and a beta of 1.21.

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). The company had revenue of $1 billion during 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 for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 EPS. As a group, research analysts predict that Cabot Co. will post 7.67 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.88%. Cabot’s dividend payout ratio is presently 25.52%.

Cabot announced that its Board of Directors has approved a share repurchase plan on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Hobart Kalkstein sold 34,759 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $115.23, for a total transaction of $4,005,279.57. Following the completion of the sale, the executive vice president now owns 50,627 shares in the company, valued at $5,833,749.21. The trade was a 40.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,190 shares of company stock valued at $5,751,534 over the last quarter. Corporate insiders own 3.07% of the company’s stock.

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.