Allspring Global Investments Holdings LLC Has $4.29 Million Stock Position in Cabot Co. (NYSE:CBT)

Allspring Global Investments Holdings LLC cut its stake in Cabot Co. (NYSE:CBT - Free Report) by 40.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,293 shares of the specialty chemicals company's stock after selling 32,879 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of Cabot worth $4,292,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Cabot in the fourth quarter valued at $26,000. Farther Finance Advisors LLC raised its holdings in Cabot by 197.9% in the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after acquiring an additional 277 shares in the last quarter. CWM LLC raised its holdings in Cabot by 35.6% in the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company's stock valued at $63,000 after acquiring an additional 148 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Cabot by 22.0% in the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company's stock valued at $73,000 after acquiring an additional 117 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new stake in shares of Cabot during the third quarter worth $82,000. 93.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBT has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday. Mizuho dropped their target price on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com raised shares of Cabot from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Cabot currently has an average rating of "Hold" and a consensus price target of $97.00.

Cabot Stock Performance

Shares of CBT stock traded up $0.41 during trading hours on Monday, reaching $84.88. The stock had a trading volume of 372,182 shares, compared to its average volume of 405,351. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. Cabot Co. has a twelve month low of $82.27 and a twelve month high of $117.46. The firm has a 50-day simple moving average of $89.13 and a 200-day simple moving average of $100.98. The firm has a market capitalization of $4.60 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.74 and a beta of 1.19.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. As a group, equities analysts forecast that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot declared that its board has initiated a share repurchase program on Tuesday, December 3rd that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Cabot Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.03%. Cabot's dividend payout ratio is presently 22.84%.

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.