Cabot Corporation (NYSE:CBT) Stake Raised by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Cabot Corporation (NYSE:CBT) by 26.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,700 shares of the specialty chemicals company’s stock after purchasing an additional 352 shares during the quarter. GAMMA Investing LLC’s holdings in Cabot were worth $141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Cabot by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 219 shares in the last quarter. Curat Global LLC purchased a new position in Cabot in the 1st quarter worth about $83,000. Farther Finance Advisors LLC increased its stake in Cabot by 1,346.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 1,508 shares in the last quarter. GeoWealth Management LLC increased its stake in Cabot by 4,553.6% in the 4th quarter. GeoWealth Management LLC now owns 2,606 shares of the specialty chemicals company’s stock worth $238,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Cabot in the 4th quarter worth about $244,000. 93.18% of the stock is currently owned by institutional investors.

Cabot Trading Down 0.7%

Shares of CBT opened at $78.37 on Friday. The business’s 50-day moving average price is $75.62 and its 200 day moving average price is $82.00. The stock has a market capitalization of $4.21 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.71 and a beta of 0.85. Cabot Corporation has a 1-year low of $71.64 and a 1-year high of $117.46. The company has a current ratio of 1.96, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69.

Cabot (NYSE:CBT) last issued its quarterly 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 26.76% and a net margin of 11.08%. The firm had revenue of $936.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted $1.78 EPS. Cabot’s revenue was down 8.1% on a year-over-year basis. Analysts expect that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from Cabot’s previous quarterly dividend of $0.43. Cabot’s payout ratio is 23.29%.

Analyst Upgrades and Downgrades

CBT has been the topic of a number of analyst reports. UBS Group dropped their price target on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Wall Street Zen cut Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th.

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.