FORA Capital LLC Purchases New Position in Cabot Co. (NYSE:CBT)

FORA Capital LLC purchased a new position in Cabot Co. (NYSE:CBT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,833 shares of the specialty chemicals company’s stock, valued at approximately $441,000.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on CBT shares. JPMorgan Chase & Co. cut their price objective on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group dropped their target price on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a report on Monday, April 7th.

Cabot Trading Down 0.5 %

Shares of NYSE CBT opened at $73.93 on Friday. The firm’s 50 day moving average price is $80.15 and its 200-day moving average price is $91.27. Cabot Co. has a 52-week low of $71.64 and a 52-week high of $117.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. The company has a market cap of $4.01 billion, a PE ratio of 9.82, a P/E/G ratio of 0.74 and a beta of 0.91.

Cabot (NYSE:CBT) last issued its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.86 by $0.04. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The business had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted $1.78 EPS. The company’s revenue was down 8.1% compared to the same quarter last year. On average, equities research analysts expect that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.45 per share. This is an increase from Cabot’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. Cabot’s dividend payout ratio is 23.29%.

About Cabot

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.