Brevan Howard Capital Management LP Acquires Shares of 11,328 Cabot Co. (NYSE:CBT)

Brevan Howard Capital Management LP bought a new stake in shares of Cabot Co. (NYSE:CBT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,328 shares of the specialty chemicals company’s stock, valued at approximately $1,034,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Cabot in the fourth quarter valued at about $37,961,000. Copeland Capital Management LLC increased its holdings in Cabot by 21.6% in 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 buying an additional 135,119 shares during the period. American Century Companies Inc. raised its position in shares of Cabot by 8.5% in 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 buying an additional 103,380 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 worth $41,228,000 after acquiring an additional 96,179 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Cabot by 12.4% during the 4th quarter. Northern Trust Corp now owns 794,477 shares of the specialty chemicals company’s stock worth $72,544,000 after acquiring an additional 87,881 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Performance

NYSE CBT opened at $73.07 on Thursday. The firm’s fifty day moving average price is $80.45 and its two-hundred day moving average price is $91.79. The stock has a market cap of $3.96 billion, a PE ratio of 9.70, a PEG ratio of 0.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. Cabot Co. has a fifty-two week low of $71.64 and a fifty-two week high of $117.46.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.04. The business 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%. Cabot’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. On average, equities analysts expect that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 30th. This is an increase from Cabot’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.46%. Cabot’s dividend payout ratio (DPR) is currently 22.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CBT shares. JPMorgan Chase & Co. cut their target price on 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 downgraded Cabot from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group decreased their target price on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th.

Cabot 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.