Cabot Co. (NYSE:CBT) Shares Sold by Man Group plc

Man Group plc trimmed its holdings in Cabot Co. (NYSE:CBT) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 115,612 shares of the specialty chemicals company’s stock after selling 5,627 shares during the period. Man Group plc’s holdings in Cabot were worth $10,557,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Cabot during the 4th quarter valued at approximately $37,961,000. Millennium Management LLC raised its position in shares of Cabot by 67.7% during the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company’s stock valued at $31,901,000 after acquiring an additional 141,050 shares in the last quarter. Copeland Capital Management LLC raised its position in shares of Cabot by 21.6% during the 4th quarter. Copeland Capital Management LLC now owns 761,372 shares of the specialty chemicals company’s stock valued at $69,521,000 after acquiring an additional 135,119 shares in the last quarter. American Century Companies Inc. raised its position in shares of Cabot by 8.5% during the 4th quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company’s stock valued at $120,835,000 after acquiring an additional 103,380 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Cabot by 27.1% during the 4th quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company’s stock valued at $41,228,000 after acquiring an additional 96,179 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CBT. UBS Group dropped their price target on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st.

Cabot Price Performance

Shares of NYSE CBT opened at $76.64 on Monday. Cabot Co. has a 1-year low of $71.64 and a 1-year high of $117.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. The business’s fifty day moving average price is $79.29 and its two-hundred day moving average price is $89.85. The firm has a market capitalization of $4.12 billion, a PE ratio of 10.18, 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 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. The firm had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share. On average, research analysts expect that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.35%. This is a positive change from Cabot’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, May 30th. Cabot’s dividend payout ratio (DPR) is 23.29%.

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.