Cabot Co. (NYSE:CBT) Stock Holdings Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its position in Cabot Co. (NYSE:CBT) by 37.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 808 shares of the specialty chemicals company’s stock after purchasing an additional 219 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cabot were worth $74,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Cabot in the 4th quarter valued at about $26,000. First Horizon Advisors Inc. lifted its position in Cabot by 22.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock valued at $73,000 after purchasing an additional 117 shares during the last quarter. GAMMA Investing LLC lifted its position in Cabot by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock valued at $123,000 after purchasing an additional 130 shares during the last quarter. Manchester Capital Management LLC lifted its position in 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 during the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in Cabot in the 3rd quarter valued at about $226,000. 93.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CBT. JPMorgan Chase & Co. cut their price objective on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Mizuho dropped their price target on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $97.00.

Cabot Stock Up 0.4 %

CBT stock opened at $84.41 on Wednesday. Cabot Co. has a 52 week low of $79.57 and a 52 week high of $117.46. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The firm’s 50-day moving average is $86.64 and its two-hundred day moving average is $99.14. 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) last announced its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. On average, analysts forecast that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.43 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 2.04%. Cabot’s dividend payout ratio is currently 22.84%.

Cabot declared that its board has authorized a stock repurchase program on Tuesday, December 3rd that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.