Point72 Asia Singapore Pte. Ltd. Trims Holdings in Cabot Co. (NYSE:CBT)

Point72 Asia Singapore Pte. Ltd. trimmed its position in Cabot Co. (NYSE:CBT) by 24.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,202 shares of the specialty chemicals company’s stock after selling 1,059 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Cabot were worth $292,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Personal CFO Solutions LLC grew its holdings in Cabot by 3.3% during the fourth quarter. Personal CFO Solutions LLC now owns 4,285 shares of the specialty chemicals company’s stock worth $391,000 after acquiring an additional 137 shares during the period. Isthmus Partners LLC grew its holdings in Cabot by 4.8% during the fourth quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company’s stock worth $372,000 after acquiring an additional 187 shares during the period. Neuberger Berman Group LLC grew its holdings in Cabot by 1.2% during the fourth quarter. Neuberger Berman Group LLC now owns 18,238 shares of the specialty chemicals company’s stock worth $1,665,000 after acquiring an additional 212 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 219 shares during the period. Finally, R Squared Ltd acquired a new stake in Cabot during the fourth quarter worth about $26,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on CBT shares. StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. UBS Group dropped their price objective on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Finally, 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 report on Friday, February 21st.

Cabot Price Performance

CBT stock opened at $75.31 on Friday. 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 company has a market capitalization of $4.05 billion, a PE ratio of 10.00, a P/E/G ratio of 0.74 and a beta of 0.91. Cabot Co. has a 12-month low of $71.64 and a 12-month high of $117.46. The business’s fifty day moving average price is $79.45 and its 200 day moving average price is $90.33.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned $1.78 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Cabot Co. will post 7.57 EPS for the current 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 paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.39%. This is an increase from Cabot’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, May 30th. Cabot’s dividend payout ratio is 23.29%.

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.