Cabot Co. (NYSE:CBT) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,825 shares of the specialty chemicals company's stock after selling 8,187 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Cabot were worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in Cabot in the fourth quarter worth about $26,000. First Horizon Advisors Inc. boosted 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 worth $73,000 after acquiring an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Cabot by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock worth $74,000 after acquiring an additional 219 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cabot by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 130 shares during the last quarter. Finally, Manchester Capital Management LLC raised its stake in shares of Cabot by 1,685.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock worth $153,000 after purchasing an additional 1,584 shares during the last quarter. Institutional investors own 93.18% of the company's stock.

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Wall Street Analyst Weigh In

CBT has been the subject of several research analyst reports. Mizuho reduced their price objective on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Finally, StockNews.com cut Cabot from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. 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.com, the stock currently has an average rating of "Hold" and a consensus price target of $97.00.

Cabot Stock Performance

CBT stock traded down $0.38 during trading on Friday, hitting $82.17. 996,165 shares of the company traded hands, compared to its average volume of 350,127. The stock's 50-day simple moving average is $86.47 and its 200 day simple moving average is $98.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. The company has a market cap of $4.46 billion, a PE ratio of 10.91, a P/E/G ratio of 0.74 and a beta of 1.21. Cabot Co. has a 1 year low of $79.57 and a 1 year high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share 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%. On average, equities analysts expect that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, February 28th. Cabot's dividend payout ratio (DPR) is presently 22.84%.

Cabot announced that its board has approved a share buyback plan on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Cabot 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.