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

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

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CBT shares. Mizuho cut their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 price objective on the stock. in a research note 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.

Insiders Place Their Bets

In other Cabot news, EVP Hobart Kalkstein sold 34,759 shares of the company’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 value of $4,005,279.57. Following the transaction, the executive vice president now directly owns 50,627 shares of the company’s stock, valued at $5,833,749.21. This represents a 40.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Lisa M. Dumont sold 865 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $111.74, for a total transaction of $96,655.10. Following the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders have sold 50,190 shares of company stock worth $5,751,534 in the last quarter. 3.07% of the stock is owned by corporate insiders.

Cabot Trading Down 0.9 %

Shares of CBT opened at $91.70 on Thursday. 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 is $98.77 and its two-hundred day moving average is $102.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.08 and a quick ratio of 1.36. The stock has a market cap of $4.99 billion, a PE ratio of 13.60, a P/E/G ratio of 0.78 and a beta of 1.21.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). The company had revenue of $1 billion for 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 was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $1.65 earnings per share. Equities analysts forecast that Cabot Co. will post 7.67 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently declared 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. This represents a $1.72 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, February 28th. Cabot’s dividend payout ratio (DPR) is 25.52%.

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

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.