Mutual of America Capital Management LLC Decreases Stock Holdings in Cabot Corporation (NYSE:CBT)

Mutual of America Capital Management LLC decreased its holdings in shares of Cabot Corporation (NYSE:CBT) by 3.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,907 shares of the specialty chemicals company’s stock after selling 1,053 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Cabot worth $2,320,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Beverly Hills Private Wealth LLC raised its stake in shares of Cabot by 3.6% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company’s stock valued at $326,000 after acquiring an additional 135 shares during the period. Neuberger Berman Group LLC increased its stake in Cabot by 1.2% in the 4th 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. GAMMA Investing LLC increased its stake in Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock worth $141,000 after buying an additional 352 shares during the period. Captrust Financial Advisors increased its stake in Cabot by 4.4% in the 4th quarter. Captrust Financial Advisors now owns 9,489 shares of the specialty chemicals company’s stock worth $866,000 after buying an additional 399 shares during the period. Finally, Xponance Inc. increased its stake in Cabot by 6.3% in the 4th quarter. Xponance Inc. now owns 7,831 shares of the specialty chemicals company’s stock worth $715,000 after buying an additional 465 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Stock Down 1.8%

NYSE CBT opened at $74.92 on Friday. The firm has a market cap of $4.02 billion, a PE ratio of 9.69, a P/E/G ratio of 0.68 and a beta of 0.85. Cabot Corporation has a 52 week low of $71.64 and a 52 week high of $117.46. The business’s fifty day simple moving average is $75.81 and its 200-day simple moving average is $80.88. The company has a quick ratio of 1.30, a current ratio of 1.96 and a debt-to-equity ratio of 0.69.

Cabot (NYSE:CBT) last announced its quarterly earnings data 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. The business had revenue of $936.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The business’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 earnings per share. As a group, equities analysts anticipate that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.40%. Cabot’s dividend payout ratio (DPR) is presently 23.29%.

Wall Street Analysts Forecast Growth

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

About Cabot

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.