Copeland Capital Management LLC Increases Position in Cabot Corporation (NYSE:CBT)

Copeland Capital Management LLC raised its stake in shares of Cabot Corporation (NYSE:CBT - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 805,504 shares of the specialty chemicals company's stock after acquiring an additional 44,132 shares during the quarter. Cabot makes up about 1.3% of Copeland Capital Management LLC's portfolio, making the stock its 22nd biggest position. Copeland Capital Management LLC owned approximately 1.49% of Cabot worth $66,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its position in shares of Cabot by 2.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 45,052 shares of the specialty chemicals company's stock worth $3,746,000 after purchasing an additional 1,188 shares in the last quarter. Consolidated Planning Corp raised its stake in Cabot by 80.4% in the 1st quarter. Consolidated Planning Corp now owns 9,431 shares of the specialty chemicals company's stock worth $784,000 after acquiring an additional 4,204 shares during the last quarter. Paradiem LLC raised its stake in Cabot by 24.8% in the 1st quarter. Paradiem LLC now owns 165,055 shares of the specialty chemicals company's stock worth $13,723,000 after acquiring an additional 32,780 shares during the last quarter. Blue Trust Inc. raised its stake in Cabot by 19.2% in the 1st quarter. Blue Trust Inc. now owns 4,944 shares of the specialty chemicals company's stock worth $411,000 after acquiring an additional 798 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in Cabot in the 1st quarter worth $482,000. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Performance

Shares of CBT stock traded up $0.24 on Friday, hitting $76.63. The company had a trading volume of 913,420 shares, compared to its average volume of 411,701. The firm has a market cap of $4.12 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 0.69 and a beta of 0.87. The company has a 50-day moving average price of $75.72 and a 200-day moving average price of $82.72. 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 twelve month low of $71.64 and a twelve month high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.04. The business had revenue of $936.00 million during the quarter, compared to analysts' expectations of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The company's revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. As a group, equities research analysts predict that Cabot Corporation will post 7.57 earnings per share 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 $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, May 30th. This is a boost from Cabot's previous quarterly dividend of $0.43. Cabot's payout ratio is 23.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CBT. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group reduced their target price on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research note on Monday, April 7th.

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.