Cabot Co. (NYSE:CBT) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. cut its stake in Cabot Co. (NYSE:CBT) by 91.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 392 shares of the specialty chemicals company’s stock after selling 4,055 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Cabot were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CBT. Point72 Hong Kong Ltd purchased a new position in Cabot in the 2nd quarter valued at approximately $109,000. Marshall Wace LLP purchased a new position in shares of Cabot in the second quarter valued at $432,000. EverSource Wealth Advisors LLC boosted its position 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 worth $48,000 after buying an additional 119 shares in the last quarter. Sei Investments Co. grew its stake in Cabot by 5.9% in the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after acquiring an additional 51,178 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in Cabot during the 2nd quarter valued at about $268,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cabot

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

Analyst Ratings Changes

Several analysts have issued reports on CBT shares. UBS Group reduced their price target on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their target price on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $101.75.

Cabot Stock Performance

Cabot stock opened at $111.77 on Tuesday. The stock has a fifty day moving average price of $101.65 and a 200 day moving average price of $97.65. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. Cabot Co. has a 52 week low of $65.10 and a 52 week high of $113.12. The firm has a market capitalization of $6.18 billion, a P/E ratio of 14.15, a PEG ratio of 1.01 and a beta of 1.19.

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

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Friday, August 30th. Cabot’s dividend payout ratio (DPR) is 21.77%.

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.