Cabot Co. (NYSE:CBT) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC decreased its position in Cabot Co. (NYSE:CBT) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,076 shares of the specialty chemicals company’s stock after selling 453 shares during the period. Corient Private Wealth LLC’s holdings in Cabot were worth $1,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd acquired a new stake in Cabot in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Cabot by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock valued at $74,000 after buying an additional 219 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cabot by 10.7% during 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 during the period. Manchester Capital Management LLC raised its position 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 worth $153,000 after acquiring an additional 1,584 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Cabot in the third quarter worth $226,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho cut their price target 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. lowered their target price on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $97.00.

Cabot Stock Performance

Shares of CBT opened at $84.00 on Wednesday. Cabot Co. has a 12-month low of $79.57 and a 12-month high of $117.46. The stock has a market cap of $4.55 billion, a P/E ratio of 11.16, a PEG ratio of 0.74 and a beta of 1.21. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $86.17 and a two-hundred day moving average of $98.51.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts predict that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Friday, February 28th. Cabot’s dividend payout ratio is presently 22.84%.

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

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.