SG Americas Securities LLC Purchases Shares of 13,250 Cabot Corporation (NYSE:CBT)

SG Americas Securities LLC acquired a new position in shares of Cabot Corporation (NYSE:CBT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,250 shares of the specialty chemicals company’s stock, valued at approximately $1,102,000.

A number of other hedge funds also recently made changes to their positions in CBT. Personal CFO Solutions LLC increased its position in Cabot by 3.3% during the 4th quarter. Personal CFO Solutions LLC now owns 4,285 shares of the specialty chemicals company’s stock valued at $391,000 after purchasing an additional 137 shares during the period. Isthmus Partners LLC boosted its stake 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. Neuberger Berman Group LLC increased its position in shares of Cabot by 1.2% during the fourth quarter. Neuberger Berman Group LLC now owns 18,238 shares of the specialty chemicals company’s stock worth $1,665,000 after buying an additional 212 shares during the period. EverSource Wealth Advisors LLC raised its stake 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 buying an additional 219 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Cabot by 26.1% in the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock valued at $141,000 after buying an additional 352 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Cabot Price Performance

Shares of NYSE:CBT opened at $73.01 on Wednesday. Cabot Corporation has a twelve month low of $71.64 and a twelve month high of $117.46. The stock’s 50 day moving average is $76.38 and its 200-day moving average is $84.52. The company has a quick ratio of 1.30, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.67 and a beta of 0.87.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. The firm had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The business’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the firm earned $1.78 earnings per share. Sell-side analysts forecast that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.45 dividend. This is a positive change from Cabot’s previous quarterly dividend of $0.43. This represents a $1.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Friday, May 30th. Cabot’s dividend payout ratio is presently 23.29%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. decreased their target price on Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, February 21st. Wall Street Zen cut Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, UBS Group lowered their price objective on shares of Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a research note on Monday, April 7th.

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.