Kingsview Wealth Management LLC Invests $2.54 Million in Cabot Corporation (NYSE:CBT)

Kingsview Wealth Management LLC purchased a new position in shares of Cabot Corporation (NYSE:CBT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,595 shares of the specialty chemicals company's stock, valued at approximately $2,544,000. Kingsview Wealth Management LLC owned 0.06% of Cabot at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. CWM LLC boosted its position in Cabot by 55.0% in the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after buying an additional 213 shares during the period. Curat Global LLC bought a new stake in shares of Cabot in the 1st quarter valued at about $83,000. Farther Finance Advisors LLC raised its holdings in shares of 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 purchasing an additional 1,508 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 352 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Cabot by 26.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 2,317 shares of the specialty chemicals company's stock worth $193,000 after acquiring an additional 489 shares in the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Price Performance

Shares of NYSE:CBT traded down $1.34 during midday trading on Friday, hitting $74.92. The company's stock had a trading volume of 260,358 shares, compared to its average volume of 410,687. The business's 50 day simple moving average is $75.81 and its 200 day simple moving average is $80.88. 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 company has a market cap of $4.02 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 0.68 and a beta of 0.85. Cabot Corporation has a 12-month low of $71.64 and a 12-month high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.04. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The firm had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm posted $1.78 earnings per share. The company's revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts forecast that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. Cabot's dividend payout ratio (DPR) is 23.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CBT shares. UBS Group cut their price objective on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Wall Street Zen lowered shares of Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 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.