Cabot Corporation (NYSE:CBT) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in Cabot Corporation (NYSE:CBT) by 5.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,856 shares of the specialty chemicals company’s stock after selling 1,257 shares during the quarter. Amalgamated Bank’s holdings in Cabot were worth $1,983,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CBT. Norges Bank acquired a new stake in shares of Cabot in the fourth quarter valued at about $37,961,000. Millennium Management LLC grew its stake in shares of Cabot by 67.7% in the fourth quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company’s stock valued at $31,901,000 after buying an additional 141,050 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Cabot by 10,385.0% in the first quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company’s stock valued at $11,751,000 after purchasing an additional 139,990 shares during the last quarter. American Century Companies Inc. boosted its holdings in Cabot by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company’s stock valued at $120,835,000 after purchasing an additional 103,380 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Cabot by 27.1% in the fourth quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company’s stock valued at $41,228,000 after purchasing an additional 96,179 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CBT shares. UBS Group reduced their price target on Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Wall Street Zen downgraded Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th.

Cabot Trading Down 0.7%

NYSE:CBT opened at $78.37 on Monday. 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 business’s 50 day moving average is $75.62 and its two-hundred day moving average is $81.83. Cabot Corporation has a 52 week low of $71.64 and a 52 week high of $117.46. The company has a market cap of $4.21 billion, a PE ratio of 10.14, a P/E/G ratio of 0.71 and a beta of 0.85.

Cabot (NYSE:CBT) last released its earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the business posted $1.78 EPS. Cabot’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Cabot Corporation will post 7.57 EPS for the current 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 issued a $0.45 dividend. This is an increase from Cabot’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, May 30th. This represents a $1.80 annualized dividend and a dividend yield of 2.30%. Cabot’s dividend payout ratio (DPR) is 23.29%.

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.