Two Sigma Investments LP Acquires 39,830 Shares of Cabot Co. (NYSE:CBT)

Two Sigma Investments LP boosted its holdings in Cabot Co. (NYSE:CBT - Free Report) by 94.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,163 shares of the specialty chemicals company's stock after acquiring an additional 39,830 shares during the period. Two Sigma Investments LP owned 0.15% of Cabot worth $7,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position 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 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock worth $74,000 after buying an additional 219 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Cabot by 1,685.1% during the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock worth $153,000 after buying an additional 1,584 shares in the last quarter. KBC Group NV boosted its position in shares of Cabot by 43.1% in the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock valued at $187,000 after acquiring an additional 616 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new position in shares of Cabot in the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

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

Cabot Stock Down 0.6%

CBT stock traded down $0.48 during trading on Friday, reaching $74.21. The stock had a trading volume of 80,786 shares, compared to its average volume of 408,031. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.74 and a beta of 0.91. Cabot Co. has a one year low of $71.64 and a one year high of $117.46. The company's 50 day moving average is $77.79 and its two-hundred day moving average is $87.78.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data 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 net margin of 10.60% and a return on equity of 26.79%. The business had revenue of $936.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company posted $1.78 earnings per share. The firm's quarterly revenue was down 8.1% compared to the same quarter last year. Equities research analysts forecast that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

The business also recently declared 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 yield of 2.43%. The ex-dividend date is Friday, May 30th. This is a boost from Cabot's previous quarterly dividend of $0.43. 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.