Lightrock Netherlands B.V. purchased a new stake in Cabot Co. (NYSE:CBT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 67,866 shares of the specialty chemicals company's stock, valued at approximately $6,228,000. Cabot comprises about 2.2% of Lightrock Netherlands B.V.'s portfolio, making the stock its 23rd largest holding. Lightrock Netherlands B.V. owned 0.12% of Cabot at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Cabot by 103.9% in the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company's stock valued at $12,699,000 after acquiring an additional 57,907 shares during the last quarter. Franklin Resources Inc. bought a new stake in Cabot in the third quarter worth about $654,000. Harbor Capital Advisors Inc. lifted its stake 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 purchasing an additional 6,950 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Cabot in the third quarter worth about $609,000. Finally, Ritholtz Wealth Management lifted its stake in Cabot by 165.5% in the fourth quarter. Ritholtz Wealth Management now owns 5,543 shares of the specialty chemicals company's stock worth $506,000 after purchasing an additional 3,455 shares during the last quarter. Institutional investors own 93.18% of the company's stock.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Cabot from a "neutral" rating to an "underweight" rating and set a $105.00 price objective for the company. in a research note on Monday, November 11th. StockNews.com downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Mizuho decreased their price objective on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $102.00.
Read Our Latest Report on CBT
Cabot Trading Up 0.8 %
Shares of Cabot stock traded up $0.68 on Friday, hitting $86.53. 433,517 shares of the company traded hands, compared to its average volume of 392,874. The stock's 50 day moving average price is $91.30 and its 200-day moving average price is $101.31. The company has a current ratio of 2.00, a quick ratio of 1.36 and a debt-to-equity ratio of 0.72. Cabot Co. has a 52 week low of $80.21 and a 52 week high of $117.46. The company has a market cap of $4.69 billion, a PE ratio of 11.49, a PEG ratio of 0.76 and a beta of 1.19.
Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share 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 research analysts predict that Cabot Co. will post 7.57 EPS for the current year.
Cabot Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, February 28th. Cabot's payout ratio is 22.84%.
Cabot declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 3rd that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Cabot Company Profile
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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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