Daymark Wealth Partners LLC reduced its stake in shares of Cabot Corporation (NYSE:CBT - Free Report) by 40.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CBT. Personal CFO Solutions LLC increased its position in shares of Cabot by 3.3% during the 4th quarter. Personal CFO Solutions LLC now owns 4,285 shares of the specialty chemicals company's stock valued at $391,000 after purchasing an additional 137 shares during the last quarter. Isthmus Partners LLC increased its position in Cabot by 4.8% during the fourth quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company's stock valued at $372,000 after acquiring an additional 187 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Cabot by 1.2% in 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 acquiring an additional 212 shares during the period. EverSource Wealth Advisors LLC raised 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 acquiring an additional 219 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Cabot by 26.1% during the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after purchasing an additional 352 shares during the period. 93.18% of the stock is currently owned by hedge funds and other institutional investors.
Cabot Stock Down 1.8%
NYSE:CBT traded down $1.41 during trading hours on Monday, reaching $75.04. The company's stock had a trading volume of 432,425 shares, compared to its average volume of 411,784. Cabot Corporation has a 12 month low of $71.64 and a 12 month high of $117.46. The company has a market capitalization of $4.03 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.69 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.96. The stock has a 50 day moving average price of $75.68 and a two-hundred day moving average price of $82.37.
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 (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.04. The firm 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% compared to the same quarter last year. During the same period last year, the business posted $1.78 earnings per share. Equities analysts predict that Cabot Corporation will post 7.57 EPS for the current fiscal year.
Cabot Increases Dividend
The firm 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. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. 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. Cabot's payout ratio is currently 23.29%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the company. UBS Group cut their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.
Check Out Our Latest Analysis on Cabot
About Cabot
(
Free Report)
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.
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