Leeward Investments LLC MA Sells 11,944 Shares of Cabot Co. (NYSE:CBT)

Leeward Investments LLC MA trimmed its position in shares of Cabot Co. (NYSE:CBT) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,246 shares of the specialty chemicals company’s stock after selling 11,944 shares during the period. Leeward Investments LLC MA’s holdings in Cabot were worth $14,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBT. CWM LLC increased its stake in Cabot by 35.6% during the third quarter. CWM LLC now owns 564 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 148 shares during the period. Creative Planning increased its stake in Cabot by 63.6% during the third quarter. Creative Planning now owns 17,363 shares of the specialty chemicals company’s stock valued at $1,941,000 after acquiring an additional 6,749 shares during the period. Raymond James & Associates increased its stake in Cabot by 24.4% during the third quarter. Raymond James & Associates now owns 40,741 shares of the specialty chemicals company’s stock valued at $4,554,000 after acquiring an additional 7,999 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Cabot by 14.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 81,172 shares of the specialty chemicals company’s stock valued at $9,073,000 after acquiring an additional 10,170 shares during the period. Finally, Foundations Investment Advisors LLC bought a new position in Cabot during the third quarter valued at about $224,000. 93.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CBT has been the topic of several research reports. Mizuho lowered their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $97.00.

Cabot Trading Down 1.1 %

CBT stock opened at $84.56 on Friday. Cabot Co. has a 1-year low of $81.24 and a 1-year high of $117.46. The firm has a market cap of $4.58 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.74 and a beta of 1.19. The business’s 50 day moving average is $89.47 and its 200-day moving average is $101.04. 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 (NYSE:CBT) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. Equities analysts anticipate that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a yield of 2.03%. Cabot’s dividend payout ratio (DPR) is presently 22.84%.

Cabot announced that its board has approved a share buyback program on Tuesday, December 3rd that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication 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.