Cabot Co. (NYSE:CBT) Position Lessened by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 30.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,111 shares of the specialty chemicals company's stock after selling 19,769 shares during the quarter. Voya Investment Management LLC owned 0.08% of Cabot worth $4,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC raised its stake in Cabot by 103.9% in the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company's stock valued at $12,699,000 after purchasing an additional 57,907 shares during the last quarter. Franklin Resources Inc. acquired a new position in Cabot during the third quarter valued at approximately $654,000. Delta Financial Group Inc. acquired a new position in shares of Cabot during the fourth quarter worth about $274,000. JPMorgan Chase & Co. boosted its holdings in Cabot by 27.1% in the 4th quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock worth $41,228,000 after acquiring an additional 96,179 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Cabot during the 4th quarter valued at $1,269,000. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Price Performance

CBT stock traded down $4.57 during trading hours on Tuesday, hitting $72.93. 677,487 shares of the stock traded hands, compared to its average volume of 397,795. The stock has a 50-day simple moving average of $80.96 and a 200 day simple moving average of $92.06. The company has a market cap of $3.95 billion, a P/E ratio of 9.71, a P/E/G ratio of 0.74 and a beta of 0.91. Cabot Co. has a one year low of $72.01 and a one year 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.

Cabot (NYSE:CBT - Get Free Report) last released its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. The business 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 revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. Equities analysts forecast that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Increases Dividend

The business 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. This is an increase from Cabot's previous quarterly dividend of $0.43. Cabot's dividend payout ratio is currently 22.84%.

Wall Street Analyst Weigh In

CBT has been the subject of several recent research reports. UBS Group lowered their target price on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Mizuho cut their price target on Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Finally, StockNews.com raised Cabot from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th.

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.