Moran Wealth Management LLC Trims Stock Position in Cabot Corporation (NYSE:CBT)

Moran Wealth Management LLC cut its stake in Cabot Corporation (NYSE:CBT) by 2.4% in the 1st quarter, Holdings Channel reports. The firm owned 60,734 shares of the specialty chemicals company’s stock after selling 1,484 shares during the period. Moran Wealth Management LLC’s holdings in Cabot were worth $5,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position 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 buying an additional 219 shares during the period. Curat Global LLC purchased a new stake in Cabot in the first quarter worth about $83,000. Farther Finance Advisors LLC boosted its position in Cabot by 1,346.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company’s stock valued at $136,000 after acquiring an additional 1,508 shares in the last quarter. GAMMA Investing LLC boosted its position in Cabot by 26.1% during the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock valued at $141,000 after acquiring an additional 352 shares in the last quarter. Finally, GeoWealth Management LLC grew its holdings in shares of Cabot by 4,553.6% during the 4th quarter. GeoWealth Management LLC now owns 2,606 shares of the specialty chemicals company’s stock worth $238,000 after acquiring an additional 2,550 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen cut Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group decreased their price objective on Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a report on Monday, April 7th.

Cabot Price Performance

Shares of CBT opened at $75.07 on Thursday. Cabot Corporation has a fifty-two week low of $71.64 and a fifty-two week high of $117.46. The firm’s 50-day simple moving average is $75.80 and its two-hundred day simple moving average is $83.28. The stock has a market cap of $4.03 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.96.

Cabot (NYSE:CBT) last issued its quarterly 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 firm had revenue of $936.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 EPS. Analysts anticipate that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.40%. This is an increase from Cabot’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 30th. Cabot’s payout ratio is 23.29%.

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.