Consolidated Planning Corp Boosts Stock Position in Cabot Corporation (NYSE:CBT)

Consolidated Planning Corp raised its position in Cabot Corporation (NYSE:CBT - Free Report) by 80.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,431 shares of the specialty chemicals company's stock after purchasing an additional 4,204 shares during the quarter. Consolidated Planning Corp's holdings in Cabot were worth $784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Delta Financial Group Inc. acquired a new stake in shares of Cabot in the fourth quarter valued at $274,000. JPMorgan Chase & Co. lifted its stake in Cabot by 27.1% during the 4th quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock worth $41,228,000 after acquiring an additional 96,179 shares in the last quarter. SG Americas Securities LLC purchased a new position in Cabot during the 1st quarter valued at about $1,102,000. QRG Capital Management Inc. acquired a new position in Cabot in the 1st quarter valued at about $482,000. Finally, Dorsey Wright & Associates acquired a new position in Cabot in the 4th quarter valued at about $3,201,000. Hedge funds and other institutional investors own 93.18% of the company's stock.

Cabot Stock Up 1.8%

NYSE:CBT traded up $1.34 during midday trading on Thursday, reaching $76.42. The company had a trading volume of 428,106 shares, compared to its average volume of 410,785. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.68 and a beta of 0.87. The stock's fifty day simple moving average is $75.76 and its 200-day simple moving average is $83.07. Cabot Corporation has a 12-month low of $71.64 and a 12-month high of $117.46. The company has a current ratio of 1.96, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.04. The company had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. Cabot's revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. On average, sell-side analysts anticipate that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. This is an increase from Cabot's previous quarterly dividend of $0.43. Cabot's payout ratio is currently 23.29%.

Wall Street Analysts Forecast Growth

CBT has been the topic of several research reports. Wall Street Zen cut shares of Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. UBS Group cut their target price on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th.

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.