Edgestream Partners L.P. Invests $2.63 Million in Cabot Co. (NYSE:CBT)

Edgestream Partners L.P. bought a new position in Cabot Co. (NYSE:CBT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 28,840 shares of the specialty chemicals company’s stock, valued at approximately $2,633,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CBT. R Squared Ltd purchased a new position in shares of Cabot in the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC boosted its stake in shares of Cabot by 197.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after buying an additional 277 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Cabot by 22.0% in 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 last quarter. Covestor Ltd boosted its stake in shares of Cabot by 35.6% in the 3rd quarter. Covestor Ltd now owns 831 shares of the specialty chemicals company’s stock worth $93,000 after buying an additional 218 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Cabot by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock worth $123,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CBT. Mizuho cut their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. dropped their price objective on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $97.00.

Cabot Price Performance

Cabot stock opened at $84.84 on Monday. 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 business’s 50 day simple moving average is $87.48 and its 200 day simple moving average is $100.13. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.74 and a beta of 1.21.

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

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, February 28th. This represents a $1.72 annualized dividend and a dividend yield of 2.03%. Cabot’s dividend payout ratio is currently 22.84%.

Cabot announced that its board has initiated a stock repurchase program on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is 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.