Foundations Investment Advisors LLC Grows Stock Position in Cabot Co. (NYSE:CBT)

Foundations Investment Advisors LLC grew its position in shares of Cabot Co. (NYSE:CBT) by 28.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,573 shares of the specialty chemicals company’s stock after buying an additional 573 shares during the period. Foundations Investment Advisors LLC’s holdings in Cabot were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Cabot by 14.5% during the fourth quarter. Pacer Advisors Inc. now owns 16,351 shares of the specialty chemicals company’s stock valued at $1,493,000 after purchasing an additional 2,069 shares during the last quarter. KBC Group NV boosted its holdings in Cabot by 43.1% in the 4th quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 616 shares during the period. Blue Trust Inc. boosted its holdings in Cabot by 8.3% in the 4th quarter. Blue Trust Inc. now owns 5,120 shares of the specialty chemicals company’s stock worth $468,000 after buying an additional 391 shares during the period. First Citizens Bank & Trust Co. grew its stake in Cabot by 8.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 5,872 shares of the specialty chemicals company’s stock valued at $536,000 after buying an additional 446 shares in the last quarter. Finally, Paradiem LLC raised its holdings in Cabot by 17.7% during the 4th quarter. Paradiem LLC now owns 132,275 shares of the specialty chemicals company’s stock valued at $12,078,000 after acquiring an additional 19,903 shares during the period. Institutional investors own 93.18% of the company’s stock.

Insider Transactions at Cabot

In other Cabot news, EVP Hobart Kalkstein sold 34,759 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 50,627 shares in the company, valued at $5,833,749.21. This trade represents a 40.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lisa M. Dumont sold 865 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total value of $96,655.10. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,190 shares of company stock valued at $5,751,534. Insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CBT shares. Mizuho decreased their price objective on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. 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 research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Cabot currently has an average rating of “Hold” and a consensus price target of $102.00.

Cabot Trading Down 1.0 %

Shares of CBT stock opened at $86.39 on Friday. The company has a market capitalization of $4.68 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.75 and a beta of 1.21. Cabot Co. has a 52-week low of $70.63 and a 52-week high of $117.46. The business’s fifty day moving average is $95.85 and its 200 day moving average is $102.09. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.36 and a current ratio of 2.08.

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). The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Cabot had a net margin of 9.51% and a return on equity of 26.60%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. On average, equities research analysts anticipate that Cabot Co. will post 7.67 EPS for the current fiscal year.

Cabot announced that its Board of Directors has authorized a share buyback program on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, February 28th. Cabot’s dividend payout ratio (DPR) is currently 25.52%.

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.