New Age Alpha Advisors LLC Purchases Shares of 2,709 Cabot Co. (NYSE:CBT)

New Age Alpha Advisors LLC purchased a new position in Cabot Co. (NYSE:CBT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,709 shares of the specialty chemicals company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CBT. Norges Bank purchased a new stake in shares of Cabot in the 4th quarter valued at about $37,961,000. JPMorgan Chase & Co. raised its stake in Cabot by 27.1% in the fourth quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company’s stock valued at $41,228,000 after purchasing an additional 96,179 shares in the last quarter. Stevens Capital Management LP bought a new stake in Cabot during the fourth quarter valued at approximately $247,000. LPL Financial LLC grew its stake in Cabot by 241.6% in the 4th quarter. LPL Financial LLC now owns 31,071 shares of the specialty chemicals company’s stock worth $2,837,000 after buying an additional 21,974 shares in the last quarter. Finally, Fox Run Management L.L.C. increased its holdings in shares of Cabot by 27.1% in the 4th quarter. Fox Run Management L.L.C. now owns 5,904 shares of the specialty chemicals company’s stock worth $539,000 after buying an additional 1,259 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CBT has been the subject of a number of research analyst reports. Mizuho dropped their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.00.

Cabot Stock Performance

NYSE CBT opened at $84.40 on Thursday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.74 and a beta of 1.21. The company has a 50-day simple moving average of $85.23 and a two-hundred day simple moving average of $97.76. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. Cabot Co. has a 12-month low of $79.57 and a 12-month high of $117.46.

Cabot (NYSE:CBT) last posted its quarterly earnings results 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 return on equity of 26.79% and a net margin of 10.60%. On average, equities analysts forecast that Cabot Co. will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, February 28th. Cabot’s dividend payout ratio (DPR) is presently 22.84%.

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.