KLP Kapitalforvaltning AS Buys New Holdings in Cabot Co. (NYSE:CBT)

KLP Kapitalforvaltning AS bought a new position in Cabot Co. (NYSE:CBT - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 14,400 shares of the specialty chemicals company's stock, valued at approximately $1,315,000.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC increased its position in Cabot by 103.9% during the third quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company's stock worth $12,699,000 after purchasing an additional 57,907 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Cabot during the 3rd quarter worth approximately $654,000. Delta Financial Group Inc. purchased a new stake in shares of Cabot during the 4th quarter valued at approximately $274,000. Empowered Funds LLC acquired a new position in Cabot in the fourth quarter valued at approximately $1,269,000. Finally, Harbor Capital Advisors Inc. grew its position in Cabot by 20.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 40,394 shares of the specialty chemicals company's stock worth $3,688,000 after acquiring an additional 6,950 shares during the period. Hedge funds and other institutional investors own 93.18% of the company's stock.

Cabot Trading Down 5.3 %

CBT traded down $4.45 during mid-day trading on Thursday, hitting $79.90. 477,398 shares of the stock were exchanged, compared to its average volume of 378,798. The company has a market cap of $4.33 billion, a PE ratio of 10.61, a PEG ratio of 0.74 and a beta of 1.21. 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's fifty day moving average is $85.05 and its two-hundred day moving average is $97.64. Cabot Co. has a 1-year low of $78.44 and a 1-year high of $117.46.

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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 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%. Equities analysts forecast 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. Investors of record on Friday, February 28th were issued 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 2.15%. Cabot's dividend payout ratio (DPR) is presently 22.84%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. Mizuho decreased 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. Finally, StockNews.com upgraded shares of Cabot from a "hold" rating to a "buy" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $97.00.

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.