Prudential Financial Inc. Sells 96,465 Shares of Cabot Co. (NYSE:CBT)

Prudential Financial Inc. cut its holdings in Cabot Co. (NYSE:CBT - Free Report) by 54.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,008 shares of the specialty chemicals company's stock after selling 96,465 shares during the quarter. Prudential Financial Inc. owned 0.15% of Cabot worth $7,397,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. R Squared Ltd bought a new stake in Cabot in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock worth $74,000 after buying an additional 219 shares during the period. GAMMA Investing LLC boosted its holdings in Cabot by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock worth $123,000 after acquiring an additional 130 shares in the last quarter. Manchester Capital Management LLC grew its stake in Cabot by 1,685.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock valued at $153,000 after acquiring an additional 1,584 shares during the period. Finally, KBC Group NV increased its holdings in shares of Cabot by 43.1% during the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock valued at $187,000 after acquiring an additional 616 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Analysts Set New Price Targets

CBT has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. 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, StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Cabot currently has an average rating of "Hold" and an average target price of $97.00.

Remove Ads

Cabot Stock Performance

Cabot stock traded down $5.26 during mid-day trading on Thursday, reaching $79.09. 63,581 shares of the company's stock were exchanged, compared to its average volume of 376,655. The firm has a market capitalization of $4.29 billion, a PE ratio of 10.50, a P/E/G ratio of 0.74 and a beta of 1.21. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business's fifty day simple moving average is $85.23 and its 200 day simple moving average is $97.76. Cabot Co. has a one year low of $78.61 and a one year high of $117.46.

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 net margin of 10.60% and a return on equity of 26.79%. On average, sell-side analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, February 28th. Cabot's dividend payout ratio (DPR) is currently 22.84%.

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.