Allspring Global Investments Holdings LLC Decreases Holdings in Cabot Corporation (NYSE:CBT)

Allspring Global Investments Holdings LLC decreased its position in shares of Cabot Corporation (NYSE:CBT - Free Report) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,475 shares of the specialty chemicals company's stock after selling 12,818 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of Cabot worth $2,980,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Personal CFO Solutions LLC raised its position in shares of Cabot by 3.3% during the 4th 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 during the last quarter. Isthmus Partners LLC raised its position in shares of Cabot by 4.8% during the 4th 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 during the last quarter. Neuberger Berman Group LLC raised its position in shares of Cabot by 1.2% during the 4th 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 during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Cabot by 37.2% during the 4th 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 during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Cabot by 26.1% during the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after purchasing an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group cut their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Wall Street Zen downgraded Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Cabot Trading Down 0.7%

Shares of CBT opened at $78.37 on Monday. The stock has a fifty day moving average of $75.62 and a two-hundred day moving average of $81.83. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.96. The company has a market capitalization of $4.21 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 0.71 and a beta of 0.85. Cabot Corporation has a fifty-two week low of $71.64 and a fifty-two week high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $936.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. Cabot's revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 EPS. As a group, analysts forecast that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, May 30th. This is a boost from Cabot's previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 2.30%. Cabot's payout ratio is currently 23.29%.

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.

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