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

Northern Trust Corp boosted its position in Cabot Co. (NYSE:CBT - Free Report) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 1.47% of Cabot worth $72,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Cabot in the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 shares of Cabot by 1,685.1% in the 4th quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock worth $153,000 after purchasing an additional 1,584 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Cabot by 43.1% in the 4th quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock worth $187,000 after buying an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their target price on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, February 21st. Mizuho dropped their price target on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Cabot from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Finally, UBS Group dropped their target price on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th.

Cabot Trading Down 0.7 %

Cabot stock opened at $77.48 on Tuesday. Cabot Co. has a one year low of $72.29 and a one year high of $117.46. The business's fifty day moving average is $80.96 and its 200 day moving average is $92.06. The stock has a market capitalization of $4.20 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.74 and a beta of 0.91. 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 (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.04. The firm had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a net margin of 10.60% and a return on equity of 26.79%. The business's quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 EPS. On average, sell-side analysts predict that Cabot Co. will post 7.57 EPS for the current year.

Cabot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.32%. This is a boost from Cabot's previous quarterly dividend of $0.43. Cabot's dividend payout ratio is presently 22.84%.

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.

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