Apollon Wealth Management LLC Buys Shares of 5,917 Cabot Co. (NYSE:CBT)

Apollon Wealth Management LLC purchased a new stake in Cabot Co. (NYSE:CBT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,917 shares of the specialty chemicals company’s stock, valued at approximately $540,000.

Several other large investors have also modified their holdings of the business. Barclays PLC lifted its stake in Cabot by 103.9% in the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company’s stock valued at $12,699,000 after buying an additional 57,907 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Cabot in the third quarter valued at $654,000. Harbor Capital Advisors Inc. boosted its stake in shares of Cabot by 20.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 40,394 shares of the specialty chemicals company’s stock valued at $3,688,000 after acquiring an additional 6,950 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in Cabot during the 3rd quarter worth about $609,000. Finally, Ritholtz Wealth Management raised its stake in Cabot by 165.5% in the 4th quarter. Ritholtz Wealth Management now owns 5,543 shares of the specialty chemicals company’s stock valued at $506,000 after purchasing an additional 3,455 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Trading Down 0.6 %

NYSE CBT opened at $85.51 on Thursday. The company has a 50-day moving average of $92.03 and a 200-day moving average of $101.51. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.36. Cabot Co. has a 12 month low of $78.61 and a 12 month high of $117.46. The company has a market cap of $4.64 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.76 and a beta of 1.19.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. As a group, equities analysts predict that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot declared that its board has authorized a stock repurchase plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, February 28th. Cabot’s dividend payout ratio (DPR) is presently 22.84%.

Analyst Ratings Changes

CBT has been the topic of several analyst reports. StockNews.com cut shares of Cabot from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. lowered shares of Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price on the stock. in a research report on Monday, November 11th. Finally, Mizuho cut their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Cabot has a consensus rating of “Hold” and a consensus price target of $102.00.

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.