Cabot Co. (NYSE:CBT) Holdings Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in Cabot Co. (NYSE:CBT) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,943 shares of the specialty chemicals company’s stock after selling 2,114 shares during the quarter. New York State Teachers Retirement System’s holdings in Cabot were worth $6,934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Cabot in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC boosted its stake in shares of Cabot by 197.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after acquiring an additional 277 shares in the last quarter. CWM LLC boosted its stake in shares of Cabot by 35.6% during the 3rd quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock worth $63,000 after acquiring an additional 148 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after purchasing an additional 117 shares during the period. Finally, Values First Advisors Inc. bought a new stake in Cabot during the 3rd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a research note on Monday, November 11th. Mizuho dropped their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, StockNews.com raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.00.

Cabot Trading Down 0.1 %

CBT stock opened at $88.30 on Thursday. The business has a fifty day moving average price of $90.21 and a 200 day moving average price of $101.16. Cabot Co. has a fifty-two week low of $80.21 and a fifty-two week high of $117.46. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 11.73, a P/E/G ratio of 0.75 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29.

Cabot (NYSE:CBT) last released its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, beating the consensus estimate 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 fiscal year.

Cabot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 1.95%. Cabot’s dividend payout ratio (DPR) is currently 22.84%.

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

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.