Cibc World Markets Corp Purchases Shares of 5,017 Cabot Co. (NYSE:CBT)

Cibc World Markets Corp purchased a new stake in Cabot Co. (NYSE:CBT) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 5,017 shares of the specialty chemicals company’s stock, valued at approximately $458,000.

Several other large investors have also recently added to or reduced their stakes in CBT. Jennison Associates LLC acquired a new position in Cabot in the 3rd quarter valued at approximately $1,483,000. Advisors Asset Management Inc. lifted its position in shares of Cabot by 37.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,103 shares of the specialty chemicals company’s stock worth $794,000 after buying an additional 1,934 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after buying an additional 117 shares during the period. Intech Investment Management LLC lifted its position in shares of Cabot by 251.7% during the 3rd quarter. Intech Investment Management LLC now owns 10,271 shares of the specialty chemicals company’s stock worth $1,148,000 after buying an additional 7,351 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cabot by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 707,433 shares of the specialty chemicals company’s stock worth $79,070,000 after buying an additional 19,215 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

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

Cabot Trading Down 0.5 %

Shares of CBT opened at $82.17 on Monday. The stock has a fifty day moving average price of $86.38 and a two-hundred day moving average price of $98.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. Cabot Co. has a 52-week low of $79.57 and a 52-week high of $117.46. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 0.74 and a beta of 1.21.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The company also recently announced 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 2.09%. Cabot’s dividend payout ratio (DPR) is currently 22.84%.

Cabot announced that its board has approved a stock buyback plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

About Cabot

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.