Man Group plc Sells 5,627 Shares of Cabot Co. (NYSE:CBT)

Man Group plc reduced its holdings in Cabot Co. (NYSE:CBT - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 115,612 shares of the specialty chemicals company's stock after selling 5,627 shares during the quarter. Man Group plc owned approximately 0.21% of Cabot worth $10,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Cabot in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position in 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 period. Manchester Capital Management LLC increased its position in Cabot by 1,685.1% in the 4th quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock valued at $153,000 after acquiring an additional 1,584 shares during the period. KBC Group NV increased its position in shares of Cabot by 43.1% during the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock worth $187,000 after buying an additional 616 shares during the period. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Cabot during the fourth quarter worth $205,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBT has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. UBS Group decreased their price objective on shares of 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 cut shares of Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Cabot Trading Up 0.0%

Shares of CBT traded up $0.02 during trading hours on Friday, hitting $74.07. 450,376 shares of the stock were exchanged, compared to its average volume of 408,635. Cabot Co. has a fifty-two week low of $71.64 and a fifty-two week high of $117.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. The business has a 50-day moving average of $78.45 and a 200-day moving average of $88.72. The firm has a market capitalization of $3.98 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.74 and a beta of 0.91.

Cabot (NYSE:CBT - Get Free Report) last issued its earnings results 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. The business had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a net margin of 10.60% and a return on equity of 26.79%. Cabot's revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, research analysts expect that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 30th. This is a positive change from Cabot's previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.43%. Cabot's dividend payout ratio is currently 23.29%.

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.