Wellington Management Group LLP lessened its holdings in shares of Cabot Co. (NYSE:CBT - Free Report) by 3.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,348,614 shares of the specialty chemicals company's stock after selling 140,463 shares during the quarter. Wellington Management Group LLP owned about 8.02% of Cabot worth $397,072,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its stake in Cabot by 103.9% during the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company's stock worth $12,699,000 after buying an additional 57,907 shares during the period. Franklin Resources Inc. purchased a new position in Cabot in the 3rd quarter valued at approximately $654,000. Delta Financial Group Inc. acquired a new position in shares of Cabot in the fourth quarter worth $274,000. Empowered Funds LLC purchased a new stake in shares of Cabot during the fourth quarter worth $1,269,000. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Cabot by 20.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 40,394 shares of the specialty chemicals company's stock valued at $3,688,000 after acquiring an additional 6,950 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.
Cabot Stock Down 1.8 %
Cabot stock traded down $1.45 during midday trading on Friday, reaching $78.39. The company's stock had a trading volume of 702,871 shares, compared to its average volume of 381,238. The company has a market cap of $4.25 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.74 and a beta of 1.04. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $84.85 and a 200-day simple moving average of $97.31. Cabot Co. has a fifty-two week low of $75.51 and a fifty-two week high of $117.46.
Cabot (NYSE:CBT - Get Free Report) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping 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, research analysts expect that Cabot Co. will post 7.57 earnings per share for the current fiscal year.
Cabot Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, February 28th. Cabot's payout ratio is 22.84%.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on CBT shares. JPMorgan Chase & Co. cut their price target on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Mizuho lowered their price objective on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research 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, April 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $97.00.
Read Our Latest Research Report on Cabot
About Cabot
(
Free Report)
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.
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