Northern Trust Corp Buys 87,881 Shares of Cabot Co. (NYSE:CBT)

Northern Trust Corp grew its position in shares of Cabot Co. (NYSE:CBT - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 794,477 shares of the specialty chemicals company's stock after purchasing an additional 87,881 shares during the quarter. Northern Trust Corp owned 1.47% of Cabot worth $72,544,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Cabot during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Cabot by 37.2% in 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 period. GAMMA Investing LLC boosted its position in Cabot by 10.7% during the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock valued at $123,000 after purchasing an additional 130 shares during the last quarter. Manchester Capital Management LLC boosted its position in 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 valued at $153,000 after purchasing an additional 1,584 shares during the last quarter. Finally, KBC Group NV boosted its position in Cabot by 43.1% during the fourth 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 during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBT has been the topic of several recent research reports. UBS Group cut 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. JPMorgan Chase & Co. dropped their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. Finally, StockNews.com lowered Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday.

Cabot Stock Performance

CBT traded down $0.38 on Friday, hitting $73.93. 381,847 shares of the stock traded hands, compared to its average volume of 402,680. Cabot Co. has a 52 week low of $71.64 and a 52 week high of $117.46. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4.01 billion, a PE ratio of 9.82, a P/E/G ratio of 0.74 and a beta of 0.91. The business has a fifty day moving average price of $80.15 and a two-hundred day moving average price of $91.01.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.04. The company had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a return on equity of 26.79% and a net margin of 10.60%. The company's quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 earnings per share. 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. Stockholders of record on Friday, May 30th will be issued a $0.45 dividend. This is an increase from Cabot's previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, May 30th. Cabot's payout ratio is presently 23.29%.

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.