Cabot Corporation (NYSE:CBT) Shares Sold by Fiera Capital Corp

Key Points

• Fiera Capital Corp reduced its stake in Cabot Corporation by 3.3%, selling 5,644 shares, and now owns about 0.31% of the company valued at $13.79 million.
• Cabot Corporation recently reported quarterly earnings of $1.90 per share, surpassing estimates, despite an 8.1% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.45, representing an annualized yield of 2.41%, with a payout ratio of 23.29%.

Fiera Capital Corp reduced its position in Cabot Corporation (NYSE:CBT - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,838 shares of the specialty chemicals company's stock after selling 5,644 shares during the quarter. Fiera Capital Corp owned approximately 0.31% of Cabot worth $13,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC lifted its stake in Cabot by 55.0% during the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 213 shares during the last quarter. Curat Global LLC purchased a new stake in shares of Cabot during the first quarter worth approximately $83,000. Farther Finance Advisors LLC raised its stake in shares of Cabot by 1,346.4% during the first quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock worth $136,000 after purchasing an additional 1,508 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Cabot by 26.1% during the first 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 last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Cabot by 26.8% during the first quarter. Nisa Investment Advisors LLC now owns 2,317 shares of the specialty chemicals company's stock worth $193,000 after purchasing an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Cabot Price Performance

Shares of NYSE CBT traded down $0.19 during trading on Friday, hitting $71.99. 734,837 shares of the company were exchanged, compared to its average volume of 334,509. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 9.31 and a beta of 0.87. Cabot Corporation has a 1 year low of $70.40 and a 1 year high of $117.46. The firm's fifty day moving average price is $75.72 and its 200 day moving average price is $80.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.30.

Cabot (NYSE:CBT - Get Free Report) last issued its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping the consensus estimate 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 net margin of 11.08% and a return on equity of 26.76%. The business's revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. On average, sell-side analysts expect that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. Cabot's payout ratio is currently 23.29%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CBT. UBS Group cut their price target on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Wall Street Zen cut Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 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.