Cabot Co. (NYSE:CBT) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its holdings in shares of Cabot Co. (NYSE:CBT) by 85.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,076 shares of the specialty chemicals company’s stock after selling 51,927 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cabot were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CBT. EverSource Wealth Advisors LLC grew its holdings in shares of Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 196 shares during the period. Trexquant Investment LP grew its holdings in shares of Cabot by 179.6% in the 4th quarter. Trexquant Investment LP now owns 25,935 shares of the specialty chemicals company’s stock worth $2,166,000 after acquiring an additional 16,658 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Cabot by 0.5% in the 4th quarter. Wells Fargo & Company MN now owns 260,428 shares of the specialty chemicals company’s stock worth $21,746,000 after acquiring an additional 1,352 shares during the period. UBS Group AG grew its holdings in shares of Cabot by 51.1% in the 4th quarter. UBS Group AG now owns 83,355 shares of the specialty chemicals company’s stock worth $6,960,000 after acquiring an additional 28,204 shares during the period. Finally, Norges Bank acquired a new stake in shares of Cabot in the 4th quarter worth approximately $41,471,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Price Performance

Shares of NYSE:CBT opened at $102.13 on Friday. The business’s fifty day moving average price is $95.13 and its two-hundred day moving average price is $84.99. The stock has a market cap of $5.64 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 2.24. Cabot Co. has a one year low of $63.73 and a one year high of $103.49.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company posted $1.33 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts forecast that Cabot Co. will post 6.78 EPS for the current fiscal year.

Cabot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Friday, May 31st. This is a positive change from Cabot’s previous quarterly dividend of $0.40. Cabot’s dividend payout ratio is currently 20.25%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CBT shares. UBS Group upped their price target on Cabot from $100.00 to $103.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. StockNews.com upgraded Cabot from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Mizuho increased their target price on Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft cut Cabot from a “buy” rating to a “hold” rating and increased their target price for the company from $88.00 to $95.00 in a report on Thursday, April 18th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cabot currently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Insiders Place Their Bets

In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.73, for a total transaction of $1,400,211.72. Following the transaction, the senior vice president now owns 34,312 shares of the company’s stock, valued at approximately $3,490,559.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.07% of the company’s stock.

Cabot Company 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.