Gallacher Capital Management LLC Invests $646,000 in Cabot Corporation (NYSE:CBT)

Gallacher Capital Management LLC bought a new position in shares of Cabot Corporation (NYSE:CBT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,765 shares of the specialty chemicals company's stock, valued at approximately $646,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC lifted its holdings in shares of Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 213 shares in the last quarter. Curat Global LLC bought a new stake in Cabot in the 1st quarter valued at $83,000. Farther Finance Advisors LLC lifted its position in Cabot by 1,346.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock valued at $136,000 after acquiring an additional 1,508 shares in the last quarter. GAMMA Investing LLC lifted its position in Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock valued at $141,000 after acquiring an additional 352 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Cabot by 26.8% in the first quarter. Nisa Investment Advisors LLC now owns 2,317 shares of the specialty chemicals company's stock valued at $193,000 after purchasing an additional 489 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Cabot Stock Performance

NYSE CBT traded down $2.22 on Thursday, hitting $75.93. 81,523 shares of the stock were exchanged, compared to its average volume of 424,673. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.30. The business's fifty day moving average is $75.80 and its 200 day moving average is $80.71. Cabot Corporation has a 52 week low of $71.64 and a 52 week high of $117.46. The company has a market capitalization of $4.08 billion, a PE ratio of 9.82, a P/E/G ratio of 0.70 and a beta of 0.85.

Cabot (NYSE:CBT - Get Free Report) last released 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. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The firm had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $1.78 earnings per share. The business's revenue for the quarter was down 8.1% compared to the same quarter last year. Research analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.37%. Cabot's dividend payout ratio (DPR) is currently 23.29%.

Wall Street Analyst Weigh In

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