Gotham Asset Management LLC Acquires 4,795 Shares of Cabot Co. (NYSE:CBT)

Gotham Asset Management LLC boosted its stake in Cabot Co. (NYSE:CBT - Free Report) by 22.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,278 shares of the specialty chemicals company's stock after buying an additional 4,795 shares during the period. Gotham Asset Management LLC's holdings in Cabot were worth $2,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CBT. R Squared Ltd bought a new position in Cabot in the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position in Cabot by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after buying 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 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 in the last quarter. KBC Group NV boosted its position in shares of 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 purchasing an additional 616 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Cabot during the 4th quarter valued at about $205,000. Institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CBT. StockNews.com lowered shares of Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a research report on Friday, February 21st. Finally, UBS Group reduced their price objective on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday, April 7th.

Cabot Trading Down 1.1%

CBT stock traded down $0.83 during mid-day trading on Monday, reaching $75.76. 265,513 shares of the stock traded hands, compared to its average volume of 405,493. 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 Co. has a 52-week low of $71.64 and a 52-week high of $117.46. The company has a market cap of $4.07 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.74 and a beta of 0.91. The stock's fifty day moving average is $79.29 and its 200-day moving average is $89.85.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. The business had revenue of $936.00 million during the quarter, compared to analyst estimates of $1.02 billion. Cabot had a net margin of 10.60% and a return on equity of 26.79%. The firm's revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. As a group, sell-side analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.38%. 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 (DPR) 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.