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

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

Several other institutional investors have also added to or reduced their stakes in CBT. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Cabot by 6.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 44,826 shares of the specialty chemicals company's stock worth $4,093,000 after purchasing an additional 2,699 shares during the period. Jane Street Group LLC increased its stake in shares of Cabot by 86.6% during the fourth quarter. Jane Street Group LLC now owns 100,073 shares of the specialty chemicals company's stock valued at $9,138,000 after buying an additional 46,444 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Cabot by 1,995.1% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 42,362 shares of the specialty chemicals company's stock valued at $3,868,000 after acquiring an additional 40,340 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in Cabot in the fourth quarter worth $393,000. Finally, AdvisorShares Investments LLC purchased a new position in Cabot during the 4th quarter valued at $418,000. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, February 21st. Finally, UBS Group decreased their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research note on Monday, April 7th.

Cabot Stock Down 0.5 %

Shares of CBT traded down $0.38 during trading hours on Friday, hitting $73.93. The company had a trading volume of 381,847 shares, compared to its average volume of 402,680. Cabot Co. has a 52-week low of $71.64 and a 52-week high of $117.46. The firm has a fifty day moving average price of $80.15 and a 200-day moving average price of $91.15. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.74 and a beta of 0.91. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00.

Cabot (NYSE:CBT - Get Free Report) last issued its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.04. The firm had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a net margin of 10.60% and a return on equity of 26.79%. The business's revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. On average, equities research analysts forecast that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued 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 2.43%. The ex-dividend date is Friday, May 30th. Cabot's dividend payout ratio is presently 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.