Farther Finance Advisors LLC Buys 1,508 Shares of Cabot Corporation (NYSE:CBT)

Farther Finance Advisors LLC increased its holdings in shares of Cabot Corporation (NYSE:CBT) by 1,346.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,620 shares of the specialty chemicals company’s stock after purchasing an additional 1,508 shares during the period. Farther Finance Advisors LLC’s holdings in Cabot were worth $136,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CBT. EverSource Wealth Advisors LLC boosted its holdings in Cabot by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 219 shares in the last quarter. Curat Global LLC bought a new stake in Cabot during the first quarter worth $83,000. GeoWealth Management LLC lifted its holdings in Cabot by 4,553.6% during the fourth quarter. GeoWealth Management LLC now owns 2,606 shares of the specialty chemicals company’s stock worth $238,000 after acquiring an additional 2,550 shares during the period. Quantbot Technologies LP purchased a new stake in Cabot in the fourth quarter worth $244,000. Finally, NBC Securities Inc. increased its position in Cabot by 146,900.0% in the first quarter. NBC Securities Inc. now owns 2,940 shares of the specialty chemicals company’s stock worth $244,000 after buying an additional 2,938 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CBT shares. Wall Street Zen downgraded Cabot from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. UBS Group dropped their price objective on Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped their price target on Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a research note on Friday, February 21st.

Cabot Trading Up 0.1%

NYSE CBT opened at $73.15 on Friday. Cabot Corporation has a 1-year low of $71.64 and a 1-year high of $117.46. The company has a current ratio of 1.96, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $76.01 and a 200-day moving average of $83.91. The firm has a market cap of $3.93 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.66 and a beta of 0.87.

Cabot (NYSE:CBT) last released its earnings results 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. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The company had revenue of $936.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the company posted $1.78 EPS. Cabot’s revenue for the quarter was down 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.45 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.80 annualized dividend and a yield of 2.46%. This is a boost from Cabot’s previous quarterly dividend of $0.43. Cabot’s dividend payout ratio (DPR) is 23.29%.

Cabot Company 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.