Daymark Wealth Partners LLC Sells 5,447 Shares of Cabot Co. (NYSE:CBT)

Daymark Wealth Partners LLC cut its stake in Cabot Co. (NYSE:CBT - Free Report) by 40.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,892 shares of the specialty chemicals company's stock after selling 5,447 shares during the quarter. Daymark Wealth Partners LLC's holdings in Cabot were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Personal CFO Solutions LLC boosted its position in Cabot by 3.3% during 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 during the period. Isthmus Partners LLC increased its holdings 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 period. Neuberger Berman Group LLC raised its position in shares of Cabot by 1.2% during the fourth quarter. Neuberger Berman Group LLC now owns 18,238 shares of the specialty chemicals company's stock valued at $1,665,000 after buying an additional 212 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Cabot by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after buying an additional 219 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Cabot by 0.9% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 43,864 shares of the specialty chemicals company's stock valued at $4,005,000 after acquiring an additional 380 shares during the period. Institutional investors and hedge funds own 93.18% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CBT. UBS Group dropped their target price on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Wall Street Zen downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research note on Friday, February 21st.

Cabot Stock Down 2.3%

CBT stock traded down $1.81 during trading hours on Thursday, reaching $75.89. 48,042 shares of the stock were exchanged, compared to its average volume of 409,202. The firm's 50-day moving average is $76.54 and its 200-day moving average is $85.69. Cabot Co. has a 12 month low of $71.64 and a 12 month high of $117.46. The company has a market cap of $4.08 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29.

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

Cabot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. 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 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.