Curat Global LLC Acquires New Shares in Cabot Co. (NYSE:CBT)

Curat Global LLC acquired a new stake in shares of Cabot Co. (NYSE:CBT) in the first quarter, HoldingsChannel reports. The fund acquired 1,000 shares of the specialty chemicals company’s stock, valued at approximately $83,000.

A number of other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. boosted its position in Cabot by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company’s stock valued at $120,835,000 after purchasing an additional 103,380 shares during the last quarter. Sei Investments Co. raised its holdings in Cabot by 6.0% during the fourth quarter. Sei Investments Co. now owns 942,273 shares of the specialty chemicals company’s stock valued at $86,039,000 after buying an additional 53,090 shares in the last quarter. Invesco Ltd. raised its holdings in Cabot by 7.1% during the fourth quarter. Invesco Ltd. now owns 845,261 shares of the specialty chemicals company’s stock valued at $77,181,000 after buying an additional 55,905 shares in the last quarter. Northern Trust Corp raised its holdings in Cabot by 12.4% during the fourth quarter. Northern Trust Corp now owns 794,477 shares of the specialty chemicals company’s stock valued at $72,544,000 after buying an additional 87,881 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cabot by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,608 shares of the specialty chemicals company’s stock valued at $64,886,000 after buying an additional 3,175 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

CBT has been the topic of several recent research reports. UBS Group cut their target price on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Wall Street Zen lowered Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their target price on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, February 21st.

Cabot Trading Up 0.1%

Cabot stock opened at $75.05 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. The business’s 50-day simple moving average is $76.75 and its 200-day simple moving average is $86.34. The firm has a market capitalization of $4.03 billion, a PE ratio of 9.97, a PEG ratio of 0.74 and a beta of 0.87. Cabot Co. has a 52 week low of $71.64 and a 52 week high of $117.46.

Cabot (NYSE:CBT) last released its earnings results 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. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The business had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business earned $1.78 earnings per share. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. Equities research analysts forecast that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Increases Dividend

The company 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 dividend on an annualized basis and a yield of 2.40%. 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.