SVB Wealth LLC Purchases Shares of 2,970 Cabot Co. (NYSE:CBT)

SVB Wealth LLC purchased a new stake in Cabot Co. (NYSE:CBT) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,970 shares of the specialty chemicals company’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Versor Investments LP increased its holdings in Cabot by 29.2% in the 4th quarter. Versor Investments LP now owns 3,100 shares of the specialty chemicals company’s stock valued at $283,000 after acquiring an additional 700 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Cabot by 0.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 43,864 shares of the specialty chemicals company’s stock valued at $4,005,000 after acquiring an additional 380 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Cabot in the 4th quarter valued at $512,000. Delta Financial Group Inc. bought a new stake in Cabot in the 4th quarter valued at $274,000. Finally, Handelsbanken Fonder AB increased its holdings in Cabot by 22.4% in the 4th quarter. Handelsbanken Fonder AB now owns 10,909 shares of the specialty chemicals company’s stock valued at $996,000 after acquiring an additional 2,000 shares during the last quarter. 93.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CBT. StockNews.com upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. Finally, Mizuho reduced their target price 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.00.

Cabot Price Performance

CBT stock opened at $82.93 on Thursday. Cabot Co. has a 12 month low of $79.57 and a 12 month high of $117.46. 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 company has a 50-day moving average price of $87.99 and a 200 day moving average price of $100.48. The stock has a market cap of $4.50 billion, a PE ratio of 11.01, a P/E/G ratio of 0.74 and a beta of 1.21.

Cabot (NYSE:CBT) last released its quarterly earnings results 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 net margin of 10.60% and a return on equity of 26.79%. Equities research analysts anticipate that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 2.07%. Cabot’s dividend payout ratio (DPR) is 22.84%.

Cabot announced that its board has initiated a stock repurchase plan on Tuesday, December 3rd that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors 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.