Erste Asset Management GmbH Purchases New Position in Cabot Co. (NYSE:CBT)

Erste Asset Management GmbH bought a new position in shares of Cabot Co. (NYSE:CBT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,450 shares of the specialty chemicals company's stock, valued at approximately $500,000.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Cabot by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,283,686 shares of the specialty chemicals company's stock valued at $143,504,000 after acquiring an additional 22,719 shares during the last quarter. Copeland Capital Management LLC raised its position in Cabot by 21.6% in the fourth quarter. Copeland Capital Management LLC now owns 761,372 shares of the specialty chemicals company's stock valued at $69,521,000 after purchasing an additional 135,119 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Cabot by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,608 shares of the specialty chemicals company's stock valued at $64,886,000 after purchasing an additional 3,175 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cabot by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 355,334 shares of the specialty chemicals company's stock worth $39,716,000 after purchasing an additional 41,554 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Cabot by 0.4% in the fourth quarter. Rhumbline Advisers now owns 178,431 shares of the specialty chemicals company's stock valued at $16,293,000 after buying an additional 649 shares during the period. Institutional investors and hedge funds own 93.18% of the company's stock.

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Cabot Trading Down 0.3 %

Shares of CBT traded down $0.26 during trading hours on Wednesday, hitting $84.16. 345,681 shares of the stock were exchanged, compared to its average volume of 347,197. Cabot Co. has a fifty-two week low of $79.57 and a fifty-two week high of $117.46. The business has a 50-day moving average of $86.64 and a 200-day moving average of $99.14. The firm has a market capitalization of $4.56 billion, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29.

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

Cabot announced that its board has authorized a stock repurchase plan on Tuesday, December 3rd that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Cabot Dividend Announcement

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

Analysts Set New Price Targets

CBT has been the topic of a number of research reports. StockNews.com lowered shares of Cabot from a "buy" rating to a "hold" rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. decreased their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Finally, Mizuho cut their target price on Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Cabot presently has a consensus rating of "Hold" and a consensus price target 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.