Apollon Wealth Management LLC Takes $540,000 Position in Cabot Co. (NYSE:CBT)

Apollon Wealth Management LLC acquired a new position in shares of Cabot Co. (NYSE:CBT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,917 shares of the specialty chemicals company's stock, valued at approximately $540,000.

Several other hedge funds have also recently bought and sold shares of CBT. Wolff Wiese Magana LLC acquired a new position in Cabot during the third quarter worth $25,000. R Squared Ltd acquired a new position in Cabot during the fourth quarter worth $26,000. Farther Finance Advisors LLC raised its stake in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock worth $47,000 after acquiring an additional 277 shares in the last quarter. CWM LLC raised its stake in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company's stock worth $63,000 after acquiring an additional 148 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company's stock worth $73,000 after acquiring an additional 117 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Price Performance

Shares of NYSE:CBT traded up $0.68 during midday trading on Friday, reaching $86.53. The company's stock had a trading volume of 433,517 shares, compared to its average volume of 382,872. The business's fifty day simple moving average is $91.30 and its 200-day simple moving average is $101.34. The company has a market capitalization of $4.69 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.76 and a beta of 1.19. Cabot Co. has a fifty-two week low of $80.21 and a fifty-two week high of $117.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.36.

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

Cabot declared that its Board of Directors has initiated a share buyback program on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Cabot Dividend Announcement

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 issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, February 28th. Cabot's dividend payout ratio is 22.84%.

Analysts Set New Price Targets

CBT has been the subject of several recent analyst reports. StockNews.com lowered Cabot from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 target price for the company. in a research note on Monday, November 11th. Finally, Mizuho lowered their target price on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $102.00.

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.