Paradiem LLC Increases Position in Cabot Corporation (NYSE:CBT)

Paradiem LLC grew its position in Cabot Corporation (NYSE:CBT - Free Report) by 24.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,055 shares of the specialty chemicals company's stock after acquiring an additional 32,780 shares during the quarter. Cabot accounts for about 3.8% of Paradiem LLC's holdings, making the stock its 3rd largest position. Paradiem LLC owned 0.30% of Cabot worth $13,723,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in shares of Cabot by 19.2% in the 1st quarter. Blue Trust Inc. now owns 4,944 shares of the specialty chemicals company's stock worth $411,000 after purchasing an additional 798 shares during the last quarter. QRG Capital Management Inc. bought a new position in Cabot in the first quarter valued at approximately $482,000. Janney Montgomery Scott LLC acquired a new stake in shares of Cabot during the first quarter worth $975,000. Ritholtz Wealth Management increased its stake in Cabot by 84.8% in the first quarter. Ritholtz Wealth Management now owns 10,245 shares of the specialty chemicals company's stock valued at $852,000 after purchasing an additional 4,702 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Cabot by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,850 shares of the specialty chemicals company's stock valued at $819,000 after purchasing an additional 819 shares in the last quarter. Institutional investors own 93.18% of the company's stock.

Cabot Stock Down 0.6%

NYSE CBT traded down $0.44 during trading hours on Wednesday, reaching $75.07. 352,846 shares of the company's stock were exchanged, compared to its average volume of 410,456. 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 capitalization of $4.03 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.87. The company's 50-day moving average is $75.80 and its two-hundred day moving average is $83.28. Cabot Corporation has a one year low of $71.64 and a one year high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last issued 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. The company had revenue of $936.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The firm's revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. On average, analysts forecast that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. 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. Cabot's payout ratio is 23.29%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CBT shares. UBS Group reduced their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a report 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.