Isthmus Partners LLC Buys 439 Shares of Cabot Co. (NYSE:CBT)

Isthmus Partners LLC boosted its holdings in Cabot Co. (NYSE:CBT) by 12.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,885 shares of the specialty chemicals company’s stock after buying an additional 439 shares during the period. Isthmus Partners LLC’s holdings in Cabot were worth $434,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new position in Cabot in the 3rd quarter valued at approximately $25,000. UMB Bank n.a. lifted 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 in the last quarter. CWM LLC lifted 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 in the last quarter. Farther Finance Advisors LLC lifted 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 in the last quarter. 93.18% of the stock is owned by institutional investors.

Cabot Trading Up 0.5 %

Shares of CBT stock opened at $109.62 on Friday. Cabot Co. has a 52-week low of $70.63 and a 52-week 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 firm has a market capitalization of $5.96 billion, a PE ratio of 16.26, a PEG ratio of 0.94 and a beta of 1.20. The stock has a fifty day simple moving average of $111.03 and a two-hundred day simple moving average of $102.91.

Cabot (NYSE:CBT) last issued 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). Cabot had a return on equity of 26.60% and a net margin of 9.51%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $1.65 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, analysts predict that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.57%. Cabot’s payout ratio is 25.52%.

Insider Activity

In related news, EVP Hobart Kalkstein sold 34,759 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $115.23, for a total value of $4,005,279.57. Following the completion of the transaction, the executive vice president now owns 50,627 shares of the company’s stock, valued at approximately $5,833,749.21. This trade represents a 40.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lisa M. Dumont sold 865 shares of the 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 transaction, the chief accounting officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 75,807 shares of company stock worth $8,352,941 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CBT. JPMorgan Chase & Co. cut 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 increased their price target on Cabot from $103.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, UBS Group lowered their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.