Cabot Co. (NYSE:CBT) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Cabot Co. (NYSE:CBT) by 60.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,122 shares of the specialty chemicals company’s stock after selling 1,689 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cabot were worth $102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBT. Barclays PLC boosted its holdings in Cabot by 103.9% in the third quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company’s stock worth $12,699,000 after acquiring an additional 57,907 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Cabot in the 3rd quarter worth approximately $654,000. Delta Financial Group Inc. purchased a new stake in Cabot during the 4th quarter worth approximately $274,000. Empowered Funds LLC acquired a new position in Cabot during the 4th quarter valued at approximately $1,269,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Cabot by 20.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 40,394 shares of the specialty chemicals company’s stock worth $3,688,000 after buying an additional 6,950 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CBT shares. Mizuho dropped their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut 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. Finally, StockNews.com raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $97.00.

Cabot Price Performance

Shares of CBT opened at $84.40 on Thursday. The business’s 50-day moving average is $85.23 and its two-hundred day moving average is $97.76. The company has a market capitalization of $4.58 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.74 and a beta of 1.21. Cabot Co. has a fifty-two week low of $79.57 and a fifty-two week high of $117.46. 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 (NYSE:CBT) last posted its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 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%. Research analysts predict that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

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

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.