Algert Global LLC Acquires 40,252 Shares of Cabot Co. (NYSE:CBT)

Algert Global LLC grew its position in Cabot Co. (NYSE:CBT - Free Report) by 92.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,964 shares of the specialty chemicals company's stock after purchasing an additional 40,252 shares during the period. Algert Global LLC owned approximately 0.15% of Cabot worth $7,667,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CBT. Barclays PLC raised its holdings in Cabot by 103.9% in the third quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company's stock valued at $12,699,000 after acquiring an additional 57,907 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Cabot by 2.9% during the third quarter. Tidal Investments LLC now owns 11,917 shares of the specialty chemicals company's stock valued at $1,332,000 after purchasing an additional 340 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Cabot during the 3rd quarter worth approximately $654,000. JPMorgan Chase & Co. boosted its position in Cabot by 13.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,334 shares of the specialty chemicals company's stock valued at $39,716,000 after purchasing an additional 41,554 shares during the period. Finally, GAMMA Investing LLC grew its stake in Cabot by 10.7% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock worth $123,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

CBT has been the subject of several analyst reports. StockNews.com raised shares of Cabot from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their price target on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. Mizuho reduced their price objective on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group cut their target price on Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th.

Cabot Price Performance

Shares of NYSE:CBT traded up $0.60 during trading on Wednesday, reaching $73.07. The company had a trading volume of 1,070,401 shares, compared to its average volume of 400,535. Cabot Co. has a twelve month low of $71.74 and a twelve month high of $117.46. 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 firm has a market capitalization of $3.96 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.91. The firm's fifty day moving average is $80.45 and its 200 day moving average is $91.79.

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, beating the consensus estimate of $1.86 by $0.04. Cabot had a net margin of 10.60% and a return on equity of 26.79%. The company had revenue of $936.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted $1.78 EPS. The business's revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts forecast that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

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

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.