Nuveen Asset Management LLC Lowers Stake in Cabot Co. (NYSE:CBT)

Nuveen Asset Management LLC lowered its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 52.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,581 shares of the specialty chemicals company's stock after selling 168,980 shares during the period. Nuveen Asset Management LLC owned approximately 0.28% of Cabot worth $13,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBT. Personal CFO Solutions LLC raised its position in Cabot by 3.3% in the 4th quarter. Personal CFO Solutions LLC now owns 4,285 shares of the specialty chemicals company's stock valued at $391,000 after buying an additional 137 shares during the last quarter. Isthmus Partners LLC raised its position in Cabot by 4.8% in the 4th quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company's stock valued at $372,000 after buying an additional 187 shares during the last quarter. Neuberger Berman Group LLC raised its position in Cabot by 1.2% in the 4th quarter. Neuberger Berman Group LLC now owns 18,238 shares of the specialty chemicals company's stock valued at $1,665,000 after buying an additional 212 shares during the last quarter. EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 219 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Cabot during the 4th quarter worth approximately $26,000. Institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

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

Cabot Price Performance

CBT stock traded down $0.43 during mid-day trading on Friday, hitting $74.71. 471,599 shares of the stock were exchanged, compared to its average volume of 410,163. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.74 and a beta of 0.91. The business has a fifty day moving average price of $77.60 and a 200 day moving average price of $87.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. 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 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. The firm had revenue of $936.00 million during the quarter, compared to analysts' expectations of $1.02 billion. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The company's revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.78 earnings per share. On average, sell-side analysts anticipate that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from Cabot's previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.41%. Cabot's dividend payout ratio is presently 23.29%.

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.