Millennium Management LLC Buys 141,050 Shares of Cabot Co. (NYSE:CBT)

Millennium Management LLC boosted its holdings in Cabot Co. (NYSE:CBT - Free Report) by 67.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 349,369 shares of the specialty chemicals company's stock after buying an additional 141,050 shares during the quarter. Millennium Management LLC owned approximately 0.64% of Cabot worth $31,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CBT. R Squared Ltd acquired a new position in shares of Cabot during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC grew its position in 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 during the last quarter. Manchester Capital Management LLC increased its holdings 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 worth $153,000 after purchasing an additional 1,584 shares in the last quarter. KBC Group NV raised its position in Cabot by 43.1% in the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock valued at $187,000 after purchasing an additional 616 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Cabot during the fourth quarter valued at about $205,000. Institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

CBT has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Wall Street Zen cut shares of Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, UBS Group dropped their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research note on Monday, April 7th.

Cabot Trading Up 1.0%

Shares of NYSE CBT traded up $0.71 during trading on Thursday, reaching $74.08. The company had a trading volume of 399,596 shares, compared to its average volume of 407,218. The stock has a market cap of $3.98 billion, a P/E ratio of 9.84, a PEG ratio of 0.74 and a beta of 0.91. The company's fifty day moving average price is $78.86 and its 200-day moving average price is $89.41. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Cabot Co. 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 data on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. The company had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The firm's quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 earnings per share. As a group, research analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Increases Dividend

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

Cabot 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.