Balyasny Asset Management L.P. Has $3 Million Stock Holdings in Cabot Co. (NYSE:CBT)

Balyasny Asset Management L.P. raised its holdings in Cabot Co. (NYSE:CBT) by 141.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,805 shares of the specialty chemicals company’s stock after purchasing an additional 19,206 shares during the quarter. Balyasny Asset Management L.P. owned 0.06% of Cabot worth $2,995,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Cabot in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 219 shares in the last quarter. Manchester Capital Management LLC boosted its holdings 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 valued at $153,000 after purchasing an additional 1,584 shares in the last quarter. KBC Group NV lifted 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 valued at $187,000 after acquiring an additional 616 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Cabot in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Stock Down 0.5%

Shares of NYSE:CBT opened at $73.93 on Monday. The business has a fifty day simple moving average of $80.15 and a 200 day simple moving average of $91.01. Cabot Co. has a 12-month low of $71.64 and a 12-month high of $117.46. 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 cap of $4.01 billion, a P/E ratio of 9.82, a P/E/G ratio of 0.74 and a beta of 0.91.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping 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 firm had revenue of $936.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the company posted $1.78 EPS. The business’s quarterly revenue was down 8.1% on a year-over-year basis. Analysts predict 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. Stockholders of record on Friday, May 30th will be given a $0.45 dividend. The ex-dividend date is Friday, May 30th. This is a positive change from Cabot’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a dividend yield of 2.43%. Cabot’s dividend payout ratio (DPR) is 23.29%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. UBS Group dropped their price target on Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. StockNews.com cut Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. lowered their target price on Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, February 21st.

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.