Gotham Asset Management LLC Purchases 4,795 Shares of Cabot Co. (NYSE:CBT)

Gotham Asset Management LLC boosted its position in Cabot Co. (NYSE:CBT) by 22.3% in the fourth quarter, HoldingsChannel reports. The firm owned 26,278 shares of the specialty chemicals company’s stock after buying an additional 4,795 shares during the quarter. Gotham Asset Management LLC’s holdings in Cabot were worth $2,399,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Cabot in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC grew its position in Cabot by 37.2% in the 4th 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. Manchester Capital Management LLC grew its position in 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 purchasing an additional 1,584 shares in the last quarter. KBC Group NV grew its position in 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 purchasing an additional 616 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Cabot in the 4th quarter worth about $205,000. 93.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Cabot Price Performance

CBT opened at $75.31 on Friday. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.05 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.74 and a beta of 0.91. Cabot Co. has a twelve month low of $71.64 and a twelve month high of $117.46. The company’s 50-day moving average price is $79.45 and its two-hundred day moving average price is $90.33.

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

Cabot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.45 per share. This is a boost from Cabot’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, May 30th. Cabot’s dividend payout ratio is presently 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.