Cabot Co. (NYSE:CBT) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in Cabot Co. (NYSE:CBT - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,900 shares of the specialty chemicals company's stock after selling 7,585 shares during the quarter. US Bancorp DE's holdings in Cabot were worth $2,091,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Cabot during the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC raised its position in Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company's stock valued at $47,000 after acquiring an additional 277 shares in the last quarter. First Horizon Advisors Inc. raised its position in Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company's stock valued at $73,000 after acquiring an additional 117 shares in the last quarter. Covestor Ltd raised its position in Cabot by 35.6% during the third quarter. Covestor Ltd now owns 831 shares of the specialty chemicals company's stock valued at $93,000 after acquiring an additional 218 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Cabot by 10.7% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock valued at $123,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Price Performance

Shares of Cabot stock traded up $0.77 on Friday, reaching $84.84. The company's stock had a trading volume of 540,064 shares, compared to its average volume of 425,772. The company has a market capitalization of $4.60 billion, a P/E ratio of 11.27, a PEG ratio of 0.74 and a beta of 1.21. Cabot Co. has a 52-week low of $79.57 and a 52-week high of $117.46. The stock has a 50-day moving average price of $87.48 and a 200-day moving average price of $100.14. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Remove Ads

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 (EPS) 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%. Analysts expect that Cabot Co. will post 7.57 EPS for the current year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 2.03%. Cabot's payout ratio is 22.84%.

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

Wall Street Analyst Weigh In

CBT has been the subject of several recent research reports. Mizuho reduced their price target on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Finally, StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.