Mutual of America Capital Management LLC Reduces Stake in Cabot Co. (NYSE:CBT)

Mutual of America Capital Management LLC decreased its stake in shares of Cabot Co. (NYSE:CBT) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,960 shares of the specialty chemicals company’s stock after selling 671 shares during the period. Mutual of America Capital Management LLC’s holdings in Cabot were worth $2,644,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Cabot by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,686 shares of the specialty chemicals company’s stock worth $143,504,000 after purchasing an additional 22,719 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Cabot by 21.6% in the 4th quarter. Copeland Capital Management LLC now owns 761,372 shares of the specialty chemicals company’s stock valued at $69,521,000 after acquiring an additional 135,119 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cabot by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock valued at $79,070,000 after acquiring an additional 19,215 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Cabot by 13.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 355,334 shares of the specialty chemicals company’s stock valued at $39,716,000 after acquiring an additional 41,554 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Cabot by 0.4% in the 4th quarter. Rhumbline Advisers now owns 178,431 shares of the specialty chemicals company’s stock valued at $16,293,000 after acquiring an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Price Performance

Shares of Cabot stock opened at $84.84 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 firm has a market capitalization of $4.60 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. The business’s 50-day moving average price is $87.62 and its 200-day moving average price is $100.24. 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%. Sell-side analysts forecast that Cabot Co. will post 7.57 EPS for the current fiscal year.

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

Cabot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 2.03%. Cabot’s payout ratio is 22.84%.

Analyst Ratings Changes

CBT has been the topic of several recent analyst reports. StockNews.com raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their price target on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Finally, Mizuho lowered their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $97.00.

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.