MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 6,644 Shares of Cabot Co. (NYSE:CBT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its position in shares of Cabot Co. (NYSE:CBT - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,653 shares of the specialty chemicals company's stock after selling 6,644 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.14% of Cabot worth $7,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Cabot in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock worth $74,000 after purchasing an additional 219 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Cabot by 1,685.1% during the fourth 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 lifted its position in Cabot by 43.1% in the 4th quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock valued at $187,000 after acquiring an additional 616 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Cabot in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 93.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CBT. JPMorgan Chase & Co. lowered their price target on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. UBS Group decreased 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. Finally, StockNews.com lowered shares of Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

Cabot Stock Performance

Shares of NYSE:CBT traded down $1.95 on Wednesday, reaching $73.47. 436,014 shares of the company's stock were exchanged, compared to its average volume of 406,877. The company has a fifty day moving average of $79.06 and a 200-day moving average of $89.52. Cabot Co. has a twelve month low of $71.64 and a twelve month high of $117.46. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.74 and a beta of 0.91. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72.

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

Cabot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, May 30th. This is a positive change from Cabot's previous quarterly dividend of $0.43. Cabot's dividend payout ratio is presently 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.