Clark Capital Management Group Inc. Sells 39,937 Shares of Cabot Co. (NYSE:CBT)

Clark Capital Management Group Inc. reduced its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 54.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,712 shares of the specialty chemicals company's stock after selling 39,937 shares during the quarter. Clark Capital Management Group Inc. owned 0.06% of Cabot worth $3,078,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Cabot by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 130 shares in the last quarter. Personal CFO Solutions LLC boosted its stake in Cabot by 3.3% in the fourth quarter. Personal CFO Solutions LLC now owns 4,285 shares of the specialty chemicals company's stock worth $391,000 after purchasing an additional 137 shares in the last quarter. Isthmus Partners LLC boosted its stake in Cabot by 4.8% in the fourth quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company's stock worth $372,000 after purchasing an additional 187 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Cabot by 1.2% in the fourth quarter. Neuberger Berman Group LLC now owns 18,238 shares of the specialty chemicals company's stock worth $1,665,000 after purchasing an additional 212 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake 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 purchasing an additional 219 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CBT. StockNews.com cut Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Finally, UBS Group cut their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a report on Monday, April 7th.

Cabot Price Performance

Shares of Cabot stock traded down $0.02 during trading on Thursday, reaching $75.30. 154,356 shares of the company's stock were exchanged, compared to its average volume of 403,213. 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 Co. has a 1-year low of $71.64 and a 1-year high of $117.46. The company has a market cap of $4.05 billion, a P/E ratio of 10.01, a PEG ratio of 0.74 and a beta of 0.91. The firm's 50-day moving average price is $79.68 and its 200 day moving average price is $90.57.

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 analysts' consensus estimates of $1.86 by $0.04. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The business had revenue of $936.00 million during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business's revenue for the quarter was down 8.1% compared to the same quarter last year. As a group, research analysts anticipate that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.45 dividend. This is a boost from Cabot's previous quarterly dividend of $0.43. The ex-dividend date is Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.39%. 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.