Leeward Investments LLC MA Raises Stock Holdings in Cabot Corporation (NYSE:CBT)

Leeward Investments LLC MA boosted its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,619 shares of the specialty chemicals company's stock after buying an additional 21,373 shares during the quarter. Leeward Investments LLC MA owned approximately 0.33% of Cabot worth $15,100,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CBT. Norges Bank purchased a new position in Cabot during the fourth quarter valued at approximately $37,961,000. Millennium Management LLC boosted its position in shares of Cabot by 67.7% in the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company's stock worth $31,901,000 after purchasing an additional 141,050 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Cabot by 10,385.0% in the 1st quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company's stock worth $11,751,000 after purchasing an additional 139,990 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Cabot by 8.5% in the 4th quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company's stock worth $120,835,000 after purchasing an additional 103,380 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Cabot by 27.1% in the 4th quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock worth $41,228,000 after purchasing an additional 96,179 shares in the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group lowered 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 cut Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Cabot Stock Performance

Shares of CBT traded down $2.01 during trading hours on Monday, reaching $76.36. 271,268 shares of the company traded hands, compared to its average volume of 409,385. The stock has a market capitalization of $4.10 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.71 and a beta of 0.85. The company has a quick ratio of 1.30, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Cabot Corporation has a 12-month low of $71.64 and a 12-month high of $117.46. The business has a fifty day moving average price of $75.62 and a 200-day moving average price of $81.83.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.04. The firm had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The business's quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 earnings per share. Equities analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 30th. This is a positive change from Cabot's previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.36%. Cabot's payout ratio 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.