Quest Partners LLC Purchases 24,972 Shares of Cabot Co. (NYSE:CBT)

Quest Partners LLC grew its position in Cabot Co. (NYSE:CBT) by 1,295.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 26,899 shares of the specialty chemicals company’s stock after buying an additional 24,972 shares during the period. Quest Partners LLC’s holdings in Cabot were worth $2,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eventide Asset Management LLC bought a new stake in shares of Cabot during the fourth quarter valued at approximately $6,919,000. BNP Paribas Financial Markets boosted its stake in Cabot by 28.8% during the 1st quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock valued at $4,727,000 after purchasing an additional 11,471 shares during the last quarter. Leeward Investments LLC MA increased its holdings in shares of Cabot by 41.1% in the 1st quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock worth $15,085,000 after purchasing an additional 47,682 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Cabot by 66.7% in the fourth quarter. Teacher Retirement System of Texas now owns 18,878 shares of the specialty chemicals company’s stock worth $1,576,000 after purchasing an additional 7,556 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Cabot by 33.9% in the fourth quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock worth $67,854,000 after purchasing an additional 205,582 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Cabot Stock Performance

Shares of CBT opened at $99.29 on Monday. Cabot Co. has a one year low of $65.10 and a one year high of $106.92. The business has a fifty day moving average of $97.17 and a 200 day moving average of $95.22. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. The firm has a market capitalization of $5.44 billion, a P/E ratio of 12.57, a PEG ratio of 0.92 and a beta of 1.19.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cabot Co. will post 7.07 EPS for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 annualized dividend and a yield of 1.73%. Cabot’s payout ratio is presently 21.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. raised their price target on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $101.75.

Insider Transactions at Cabot

In other news, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the sale, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jeff Ji Zhu sold 1,201 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now directly owns 96,000 shares in the company, valued at approximately $10,194,240. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the sale, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at $5,968,839.06. The disclosure for this sale can be found here. Insiders have sold 71,939 shares of company stock worth $7,308,812 in the last 90 days. 3.07% of the stock is currently owned by insiders.

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.