Baldwin Investment Management LLC Sells 4,100 Shares of Cabot Co. (NYSE:CBT)

Baldwin Investment Management LLC reduced its stake in Cabot Co. (NYSE:CBT - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,455 shares of the specialty chemicals company's stock after selling 4,100 shares during the period. Baldwin Investment Management LLC's holdings in Cabot were worth $772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. R Squared Ltd bought a new stake in shares of Cabot during the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in Cabot by 37.2% during 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 during the period. GAMMA Investing LLC grew its position in Cabot by 10.7% during the fourth 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 in the last quarter. Manchester Capital Management LLC increased its position in shares of Cabot by 1,685.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock worth $153,000 after purchasing an additional 1,584 shares during the period. Finally, KBC Group NV grew its stake in Cabot by 43.1% during the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock worth $187,000 after buying an additional 616 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CBT. Mizuho dropped their target price on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. 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. StockNews.com raised Cabot from a "hold" rating to a "buy" rating in a report on Thursday, April 17th. Finally, UBS Group lowered their price target on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a report on Monday, April 7th.

Cabot Price Performance

CBT traded up $0.60 on Wednesday, reaching $73.07. The stock had a trading volume of 1,070,401 shares, compared to its average volume of 400,535. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.91. Cabot Co. has a fifty-two week low of $71.74 and a fifty-two week high of $117.46. The firm has a 50-day moving average of $80.45 and a 200-day moving average of $91.79.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping 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 business had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned $1.78 EPS. The firm's revenue was down 8.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

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

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.