Intech Investment Management LLC boosted its position in Cabot Co. (NYSE:CBT - Free Report) by 91.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,630 shares of the specialty chemicals company's stock after acquiring an additional 9,359 shares during the quarter. Intech Investment Management LLC's holdings in Cabot were worth $1,792,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CBT. Copeland Capital Management LLC raised its holdings in shares of Cabot by 21.6% in the 4th 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 in the last quarter. Lightrock Netherlands B.V. acquired a new stake in Cabot in the fourth quarter valued at $6,228,000. Barclays PLC lifted its holdings 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 last quarter. Raymond James Financial Inc. acquired a new position in shares of Cabot during the 4th quarter worth about $5,057,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Cabot by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,334 shares of the specialty chemicals company's stock valued at $39,716,000 after acquiring an additional 41,554 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.
Cabot Stock Performance
CBT traded down $0.07 during trading on Tuesday, hitting $84.00. 602,421 shares of the stock were exchanged, compared to its average volume of 350,157. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Cabot Co. has a 1-year low of $79.57 and a 1-year high of $117.46. The stock has a fifty day moving average price of $86.28 and a two-hundred day moving average price of $98.62. The firm has a market capitalization of $4.55 billion, a P/E ratio of 11.16, a PEG ratio of 0.74 and a beta of 1.21.
Cabot (NYSE:CBT - Get Free Report) last announced 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 net margin of 10.60% and a return on equity of 26.79%. As a group, sell-side analysts predict that Cabot Co. will post 7.57 earnings per share for the current year.
Cabot declared that its board has initiated a stock buyback program on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.
Cabot Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 2.05%. Cabot's payout ratio is currently 22.84%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CBT shares. StockNews.com cut Cabot from a "buy" rating to a "hold" rating in a research note on Tuesday, March 11th. JPMorgan Chase & Co. reduced their price objective on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Finally, Mizuho dropped their target price on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Cabot presently has an average rating of "Hold" and a consensus price target of $97.00.
Get Our Latest Stock Report on Cabot
Cabot Profile
(
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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