Cabot Co. (NYSE:CBT) Shares Acquired by Manchester Capital Management LLC

Manchester Capital Management LLC grew its holdings in Cabot Co. (NYSE:CBT) by 1,685.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,678 shares of the specialty chemicals company’s stock after acquiring an additional 1,584 shares during the quarter. Manchester Capital Management LLC’s holdings in Cabot were worth $153,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 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 shares of Cabot during the third quarter worth about $654,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Cabot by 20.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 40,394 shares of the specialty chemicals company’s stock worth $3,688,000 after purchasing an additional 6,950 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in shares of Cabot during the third quarter worth about $609,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Cabot by 165.5% during the fourth quarter. Ritholtz Wealth Management now owns 5,543 shares of the specialty chemicals company’s stock worth $506,000 after purchasing an additional 3,455 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CBT shares. StockNews.com downgraded Cabot from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Mizuho decreased their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. downgraded Cabot from a “neutral” rating to an “underweight” rating and set a $105.00 target price for the company. in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $102.00.

Cabot Stock Up 0.8 %

Shares of CBT stock opened at $86.53 on Friday. The stock has a 50 day moving average of $91.30 and a 200 day moving average of $101.33. The company has a current ratio of 2.00, a quick ratio of 1.36 and a debt-to-equity ratio of 0.72. The stock has a market cap of $4.69 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.76 and a beta of 1.19. Cabot Co. has a twelve month low of $80.21 and a twelve month high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share 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%. As a group, sell-side analysts expect that Cabot Co. will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, February 28th. Cabot’s dividend payout ratio (DPR) is presently 22.84%.

Cabot announced that its board has approved a share buyback plan on Tuesday, December 3rd that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows 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 board of directors believes its shares are undervalued.

Cabot 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.