Cibc World Markets Corp Purchases New Shares in Cabot Co. (NYSE:CBT)

Cibc World Markets Corp purchased a new stake in shares of Cabot Co. (NYSE:CBT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,017 shares of the specialty chemicals company's stock, valued at approximately $458,000.

Other institutional investors have also modified their holdings of the company. Natixis Advisors LLC grew its stake in Cabot by 7.0% during the 4th quarter. Natixis Advisors LLC now owns 124,079 shares of the specialty chemicals company's stock worth $11,330,000 after buying an additional 8,068 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Cabot by 17.4% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 47,300 shares of the specialty chemicals company's stock worth $4,287,000 after acquiring an additional 7,000 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of Cabot during the fourth quarter valued at about $500,000. EverSource Wealth Advisors LLC raised its position in shares of Cabot by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after purchasing an additional 219 shares during the last quarter. Finally, Isthmus Partners LLC boosted its stake in Cabot by 4.8% in the 4th quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company's stock worth $372,000 after purchasing an additional 187 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on CBT shares. Mizuho cut their price target on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price 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 lowered Cabot from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $97.00.

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Cabot Stock Performance

CBT traded up $0.57 during midday trading on Thursday, hitting $84.14. 310,367 shares of the company were exchanged, compared to its average volume of 351,302. Cabot Co. has a 1-year low of $79.57 and a 1-year high of $117.46. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The company's 50 day simple moving average is $86.02 and its 200 day simple moving average is $98.41.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS 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%. As a group, sell-side analysts predict that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.43 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.04%. Cabot's dividend payout ratio (DPR) is currently 22.84%.

Cabot declared that its Board of Directors has authorized a stock 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership 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.