AQR Capital Management LLC lessened its stake in Cabot Co. (NYSE:CBT - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 216,834 shares of the specialty chemicals company's stock after selling 10,797 shares during the quarter. AQR Capital Management LLC owned about 0.40% of Cabot worth $19,764,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in 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 during the last quarter. Sei Investments Co. boosted its holdings in shares of 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 acquiring an additional 53,090 shares during the period. Invesco Ltd. increased its stake in shares of Cabot by 7.1% in the fourth quarter. Invesco Ltd. now owns 845,261 shares of the specialty chemicals company's stock valued at $77,181,000 after purchasing an additional 55,905 shares during the period. Northern Trust Corp raised its stake in shares of 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 purchasing an additional 87,881 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its position in shares of Cabot by 21.6% during 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 purchasing an additional 135,119 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.
Cabot Price Performance
NYSE:CBT traded up $0.60 during trading hours on Wednesday, hitting $73.07. The company's stock had a trading volume of 1,070,401 shares, compared to its average volume of 400,535. The company has a market capitalization of $3.96 billion, a P/E 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 current ratio of 2.00 and a quick ratio of 1.29. The stock has a fifty day simple moving average of $80.45 and a 200-day simple moving average of $91.79. Cabot Co. has a twelve month low of $71.74 and a twelve month high of $117.46.
Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. The company had revenue of $936.00 million during the quarter, compared to analysts' expectations of $1.02 billion. Cabot had a net margin of 10.60% and a return on equity of 26.79%. Cabot's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.78 earnings per share. On average, analysts anticipate that Cabot Co. will post 7.57 EPS for the current fiscal year.
Cabot Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.45 per share. 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 dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, May 30th. Cabot's dividend payout ratio is currently 22.84%.
Analyst Ratings Changes
CBT has been the topic of a number of research reports. StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Mizuho cut their target price on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. UBS Group lowered their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, February 21st.
Read Our Latest Analysis on Cabot
Cabot Company Profile
(
Free Report)
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.
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