Cabot Co. (NYSE:CBT) Stake Raised by Man Group plc

Man Group plc boosted its holdings in Cabot Co. (NYSE:CBT) by 177.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,872 shares of the specialty chemicals company’s stock after acquiring an additional 115,069 shares during the quarter. Man Group plc owned about 0.32% of Cabot worth $9,432,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CBT. Arlington Partners LLC acquired a new stake in Cabot during the 1st quarter worth about $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cabot during the 4th quarter worth about $51,000. Burleson & Company LLC acquired a new stake in Cabot during the 1st quarter worth about $52,000. Carolina Wealth Advisors LLC acquired a new stake in Cabot during the 1st quarter worth about $103,000. Finally, The PNC Financial Services Group Inc. raised its holdings in Cabot by 14.1% during the 1st quarter. The PNC Financial Services Group Inc. now owns 2,593 shares of the specialty chemicals company’s stock worth $136,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 86.76% of the company’s stock.

A number of brokerages have recently weighed in on CBT. Barclays upped their target price on Cabot from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. JPMorgan Chase & Co. upped their target price on Cabot from $50.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, June 18th. TheStreet upgraded Cabot from a “c” rating to a “b-” rating in a report on Monday, May 3rd. Zacks Investment Research downgraded Cabot from a “strong-buy” rating to a “hold” rating and set a $56.00 target price on the stock. in a report on Tuesday, April 6th. Finally, Loop Capital upgraded Cabot from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Thursday, July 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Cabot presently has a consensus rating of “Hold” and a consensus target price of $72.00.

Shares of NYSE CBT opened at $52.41 on Thursday. The company has a market cap of $2.97 billion, a PE ratio of -20.39 and a beta of 1.66. The firm has a 50 day moving average price of $59.64. Cabot Co. has a 52 week low of $34.84 and a 52 week high of $65.25. The company has a current ratio of 1.89, a quick ratio of 1.22 and a debt-to-equity ratio of 1.15.

Cabot (NYSE:CBT) last announced its earnings results on Sunday, May 2nd. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.41. The firm had revenue of $842.00 million during the quarter, compared to analysts’ expectations of $771.05 million. Cabot had a positive return on equity of 19.21% and a negative net margin of 5.17%. The company’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. Analysts predict that Cabot Co. will post 4.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 10th. Shareholders of record on Friday, August 27th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 26th. This represents a $1.40 dividend on an annualized basis and a yield of 2.67%. Cabot’s payout ratio is currently 67.31%.

In other Cabot news, SVP Karen A. Kalita sold 10,757 shares of the company’s stock in a transaction that occurred on Monday, May 10th. The stock was sold at an average price of $62.84, for a total transaction of $675,969.88. Following the completion of the sale, the senior vice president now owns 21,687 shares of the company’s stock, valued at $1,362,811.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is owned by corporate insiders.

Cabot Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers rubber grade carbon blacks 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.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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