Lightrock Netherlands B.V. Raises Stake in Cabot Corporation (NYSE:CBT)

Lightrock Netherlands B.V. lifted its holdings in Cabot Corporation (NYSE:CBT - Free Report) by 74.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 118,644 shares of the specialty chemicals company's stock after purchasing an additional 50,778 shares during the period. Cabot comprises 2.6% of Lightrock Netherlands B.V.'s holdings, making the stock its 17th biggest position. Lightrock Netherlands B.V. owned 0.22% of Cabot worth $9,881,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CBT. EverSource Wealth Advisors LLC raised its stake in shares of Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock worth $74,000 after acquiring an additional 219 shares in the last quarter. Curat Global LLC bought a new position in shares of Cabot during the 1st quarter worth approximately $83,000. Farther Finance Advisors LLC raised its stake in shares of Cabot by 1,346.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock worth $136,000 after acquiring an additional 1,508 shares in the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 352 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Cabot by 31.5% during the 1st quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company's stock worth $224,000 after acquiring an additional 644 shares in 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 $0.56 during midday trading on Friday, hitting $78.37. The company's stock had a trading volume of 156,613 shares, compared to its average volume of 409,939. The business's 50 day simple moving average is $75.62 and its 200 day simple moving average is $82.00. 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 $4.21 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 0.71 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 released 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. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The firm had revenue of $936.00 million during the quarter, compared to analysts' expectations of $1.02 billion. During the same period last year, the business earned $1.78 earnings per share. Cabot's revenue was down 8.1% compared to the same quarter last year. On average, analysts forecast that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Increases Dividend

The firm 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 is a positive change from Cabot's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.30%. Cabot's dividend payout ratio (DPR) is presently 23.29%.

Analyst Ratings Changes

CBT has been the topic of a number of recent analyst reports. 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 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.

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.