Corient Private Wealth LLC Trims Position in Cabot Co. (NYSE:CBT)

Corient Private Wealth LLC lowered its holdings in Cabot Co. (NYSE:CBT) by 3.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,076 shares of the specialty chemicals company’s stock after selling 453 shares during the period. Corient Private Wealth LLC’s holdings in Cabot were worth $1,285,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its holdings in Cabot by 7.0% in the 4th quarter. Natixis Advisors LLC now owns 124,079 shares of the specialty chemicals company’s stock valued at $11,330,000 after buying an additional 8,068 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Cabot by 17.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 47,300 shares of the specialty chemicals company’s stock worth $4,287,000 after acquiring an additional 7,000 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Cabot in the fourth quarter valued at approximately $500,000. EverSource Wealth Advisors LLC increased its position in Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after purchasing an additional 219 shares during the last quarter. Finally, Isthmus Partners LLC boosted its holdings in shares of Cabot by 4.8% in the 4th quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company’s stock valued at $372,000 after purchasing an additional 187 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CBT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price objective on Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, February 21st. Mizuho dropped their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Cabot presently has an average rating of “Hold” and a consensus target price of $97.00.

Cabot Stock Performance

NYSE:CBT opened at $84.00 on Wednesday. The firm’s fifty day simple moving average is $86.17 and its 200 day simple moving average is $98.51. 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 Co. has a twelve month low of $79.57 and a twelve month high of $117.46. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 11.16, 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 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. As a group, equities research analysts expect that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, February 28th. Cabot’s dividend payout ratio (DPR) is 22.84%.

Cabot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 3rd that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.