Sei Investments Co. Has $86.04 Million Stock Holdings in Cabot Co. (NYSE:CBT)

Sei Investments Co. boosted its position in shares of Cabot Co. (NYSE:CBT) by 6.0% in the fourth quarter, Holdings Channel reports. The firm owned 942,273 shares of the specialty chemicals company’s stock after purchasing an additional 53,090 shares during the period. Sei Investments Co.’s holdings in Cabot were worth $86,039,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Cabot in the 4th quarter valued at $26,000. First Horizon Advisors Inc. raised its position in shares of Cabot by 22.0% during the third quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after purchasing an additional 117 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock valued at $74,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Cabot by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 130 shares during the period. Finally, Manchester Capital Management LLC increased its stake in Cabot by 1,685.1% during 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. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Stock Down 0.5 %

Cabot stock opened at $82.17 on Friday. The company has a fifty day simple moving average of $86.38 and a 200 day simple moving average of $98.75. 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 company has a market cap of $4.46 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21.

Cabot (NYSE:CBT) last released its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating 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%. Research analysts anticipate that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Cabot announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Cabot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, February 28th. Cabot’s dividend payout ratio (DPR) is presently 22.84%.

Analyst Ratings Changes

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

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.