Two Sigma Advisers LP Grows Stock Position in Cabot Co. (NYSE:CBT)

Two Sigma Advisers LP lifted its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 123.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,600 shares of the specialty chemicals company's stock after buying an additional 5,300 shares during the quarter. Two Sigma Advisers LP's holdings in Cabot were worth $877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of Cabot during the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC raised its holdings in 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 buying an additional 219 shares during the last quarter. Manchester Capital Management LLC boosted its stake in Cabot by 1,685.1% during the 4th quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock valued at $153,000 after purchasing an additional 1,584 shares during the last quarter. KBC Group NV lifted its stake in Cabot by 43.1% during 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 during the fourth quarter worth $205,000. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Down 0.2%

CBT stock traded down $0.18 during trading on Thursday, hitting $74.93. 25,168 shares of the company's stock traded hands, compared to its average volume of 408,986. Cabot Co. has a 1 year low of $71.64 and a 1 year high of $117.46. The business has a fifty day simple moving average of $77.10 and a two-hundred day simple moving average of $86.80. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4.03 billion, a P/E ratio of 9.92, a PEG ratio of 0.74 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.86 by $0.04. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The company had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company earned $1.78 earnings per share. Cabot's quarterly revenue was down 8.1% compared to the same quarter last year. Sell-side analysts anticipate that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from Cabot's previous quarterly dividend of $0.43. Cabot's dividend payout ratio is currently 23.29%.

Analysts Set New Price Targets

CBT has been the subject of a number of recent analyst reports. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price target on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. 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 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.