Harbor Capital Advisors Inc. Has $2.97 Million Stock Holdings in Cabot Co. (NYSE:CBT)

Harbor Capital Advisors Inc. lessened its holdings in shares of Cabot Co. (NYSE:CBT - Free Report) by 11.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,744 shares of the specialty chemicals company's stock after selling 4,650 shares during the quarter. Harbor Capital Advisors Inc. owned 0.07% of Cabot worth $2,972,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Personal CFO Solutions LLC grew its stake in 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 in the last quarter. Isthmus Partners LLC increased its holdings in shares of Cabot by 4.8% in the 4th 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 increased its holdings in shares of Cabot by 1.2% in the 4th 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 last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Cabot by 37.2% in the 4th 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 last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Cabot by 0.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 43,864 shares of the specialty chemicals company's stock valued at $4,005,000 after acquiring an additional 380 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Performance

NYSE:CBT traded down $1.65 during midday trading on Friday, reaching $74.58. 322,142 shares of the company traded hands, compared to its average volume of 410,626. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. Cabot Co. has a twelve month low of $71.64 and a twelve month high of $117.46. The company has a fifty day moving average price of $76.54 and a 200 day moving average price of $84.84. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 0.74 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The company had revenue of $936.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm's quarterly revenue was down 8.1% on a year-over-year basis. On average, analysts expect that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, May 30th. 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

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, February 21st. UBS Group reduced their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a research report 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.