Dorsey Wright & Associates Buys Shares of 35,061 Cabot Co. (NYSE:CBT)

Dorsey Wright & Associates purchased a new position in Cabot Co. (NYSE:CBT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,061 shares of the specialty chemicals company's stock, valued at approximately $3,201,000. Dorsey Wright & Associates owned about 0.06% of Cabot at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Schroder Investment Management Group raised its holdings in shares of Cabot by 67.4% in the 4th quarter. Schroder Investment Management Group now owns 77,942 shares of the specialty chemicals company's stock valued at $7,065,000 after purchasing an additional 31,394 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Cabot by 14.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,933 shares of the specialty chemicals company's stock worth $724,000 after purchasing an additional 1,016 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Cabot during the fourth quarter valued at about $247,000. Norges Bank bought a new stake in Cabot during the fourth quarter valued at about $37,961,000. Finally, JPMorgan Chase & Co. grew its stake in Cabot by 27.1% in the fourth quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock valued at $41,228,000 after purchasing an additional 96,179 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Stock Performance

CBT traded down $3.65 during midday trading on Thursday, hitting $80.70. 135,420 shares of the company were exchanged, compared to its average volume of 376,931. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. Cabot Co. has a 1-year low of $78.61 and a 1-year high of $117.46. The company's 50 day simple moving average is $85.23 and its 200 day simple moving average is $97.76. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72.

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Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, beating analysts' consensus estimates 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 2.13%. Cabot's dividend payout ratio is presently 22.84%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CBT. StockNews.com upgraded shares of Cabot from a "hold" rating to a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. reduced their target price on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. Finally, Mizuho dropped their price target on Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $97.00.

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.