State of Wyoming Cuts Position in Cabot Co. (NYSE:CBT)

State of Wyoming decreased its position in Cabot Co. (NYSE:CBT) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,441 shares of the specialty chemicals company’s stock after selling 177 shares during the quarter. State of Wyoming’s holdings in Cabot were worth $223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Cabot in the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC raised its position in Cabot by 37.2% in 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 during the period. Manchester Capital Management LLC increased its position in shares of 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 worth $153,000 after acquiring an additional 1,584 shares during the period. KBC Group NV raised its stake in shares of Cabot by 43.1% in the fourth 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 in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in Cabot in the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Trading Up 0.0%

Shares of NYSE:CBT opened at $74.07 on Friday. Cabot Co. has a 52 week low of $71.64 and a 52 week high of $117.46. The company’s 50 day moving average is $78.45 and its two-hundred day moving average is $88.92. 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 cap of $3.98 billion, a PE ratio of 9.84, a P/E/G ratio of 0.74 and a beta of 0.91.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. Cabot had a net margin of 10.60% and a return on equity of 26.79%. The company had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted $1.78 EPS. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. Equities analysts predict that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Cabot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from Cabot’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.43%. Cabot’s dividend payout ratio is currently 23.29%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CBT. UBS Group cut their price target on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Wall Street Zen cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a research note 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.