Cabot Co. (NYSE:CBT) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its position in Cabot Co. (NYSE:CBT) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,803 shares of the specialty chemicals company’s stock after selling 291 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cabot were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Cabot by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,361,129 shares of the specialty chemicals company’s stock valued at $440,635,000 after acquiring an additional 24,961 shares during the period. Wellington Management Group LLP raised its stake in shares of Cabot by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after purchasing an additional 20,589 shares in the last quarter. Earnest Partners LLC lifted its holdings in Cabot by 2.1% in the third quarter. Earnest Partners LLC now owns 3,167,091 shares of the specialty chemicals company’s stock worth $219,384,000 after purchasing an additional 66,422 shares during the period. Dimensional Fund Advisors LP grew its position in Cabot by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,313,254 shares of the specialty chemicals company’s stock valued at $109,664,000 after buying an additional 32,735 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Cabot by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,627 shares of the specialty chemicals company’s stock valued at $56,331,000 after buying an additional 5,831 shares during the period. Institutional investors own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CBT shares. Mizuho increased their price objective on shares of Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. StockNews.com raised Cabot from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and upped their price objective for the company from $88.00 to $95.00 in a report on Thursday, April 18th. Finally, UBS Group upped their price target on shares of Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

Insider Buying and Selling

In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.73, for a total value of $1,400,211.72. Following the transaction, the senior vice president now owns 34,312 shares in the company, valued at approximately $3,490,559.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.07% of the stock is currently owned by corporate insiders.

Cabot Stock Down 0.4 %

Shares of Cabot stock opened at $100.82 on Friday. Cabot Co. has a 12-month low of $63.73 and a 12-month high of $103.49. The stock’s fifty day moving average is $94.85 and its 200-day moving average is $84.64. The firm has a market capitalization of $5.57 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.01 and a beta of 1.27. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last announced its earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.12. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.04 billion. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 EPS. Equities analysts anticipate that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.71%. This is a positive change from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, May 31st. Cabot’s dividend payout ratio is 20.25%.

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.