Cabot Co. (NYSE:CBT) Stock Holdings Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its position in Cabot Co. (NYSE:CBT) by 37.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 808 shares of the specialty chemicals company’s stock after buying an additional 219 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cabot were worth $74,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CBT. Copeland Capital Management LLC boosted its holdings in shares of Cabot by 21.6% during the fourth quarter. Copeland Capital Management LLC now owns 761,372 shares of the specialty chemicals company’s stock worth $69,521,000 after purchasing an additional 135,119 shares during the period. Lightrock Netherlands B.V. acquired a new stake in shares of Cabot during the fourth quarter worth approximately $6,228,000. Barclays PLC boosted its holdings in shares of Cabot by 103.9% during the third quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company’s stock worth $12,699,000 after purchasing an additional 57,907 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Cabot during the fourth quarter worth approximately $5,057,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Cabot by 13.2% during the third quarter. JPMorgan Chase & Co. now owns 355,334 shares of the specialty chemicals company’s stock worth $39,716,000 after purchasing an additional 41,554 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. StockNews.com cut shares of Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Mizuho reduced their target price on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Cabot has a consensus rating of “Hold” and an average price target of $97.00.

Cabot Price Performance

Shares of Cabot stock opened at $84.41 on Wednesday. The firm has a fifty day simple moving average of $86.64 and a 200-day simple moving average of $99.14. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. Cabot Co. has a 1-year low of $79.57 and a 1-year high of $117.46. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.74 and a beta of 1.21.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. On average, sell-side analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot declared that its Board of Directors has initiated a share buyback program on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Cabot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Friday, February 28th. Cabot’s payout ratio is 22.84%.

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.