Headlands Technologies LLC Reduces Position in Cabot Co. (NYSE:CBT)

Headlands Technologies LLC lowered its position in Cabot Co. (NYSE:CBT) by 14.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,085 shares of the specialty chemicals company’s stock after selling 184 shares during the quarter. Headlands Technologies LLC’s holdings in Cabot were worth $99,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in Cabot by 32.2% in the 3rd quarter. Cerity Partners LLC now owns 3,761 shares of the specialty chemicals company’s stock valued at $420,000 after purchasing an additional 915 shares during the last quarter. Captrust Financial Advisors increased its stake in Cabot by 8.4% in the third quarter. Captrust Financial Advisors now owns 9,090 shares of the specialty chemicals company’s stock valued at $1,016,000 after purchasing an additional 704 shares during the period. Verition Fund Management LLC raised its holdings in shares of Cabot by 47.1% in the third quarter. Verition Fund Management LLC now owns 6,911 shares of the specialty chemicals company’s stock valued at $772,000 after buying an additional 2,212 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Cabot by 107.2% during the third quarter. HighTower Advisors LLC now owns 21,040 shares of the specialty chemicals company’s stock worth $2,346,000 after buying an additional 10,888 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Cabot during the third quarter worth about $748,000. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CBT. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. decreased their price target on Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, February 21st. Finally, Mizuho dropped their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $97.00.

Cabot Trading Down 1.8 %

Shares of CBT stock opened at $78.39 on Monday. The business’s fifty day moving average price is $84.85 and its 200 day moving average price is $97.31. The firm has a market capitalization of $4.25 billion, a PE ratio of 10.41, a P/E/G ratio of 0.74 and a beta of 1.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. Cabot Co. has a 1-year low of $75.51 and a 1-year high of $117.46.

Cabot (NYSE:CBT) last issued its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. As a group, sell-side analysts forecast that Cabot Co. will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, February 28th. Cabot’s dividend payout ratio (DPR) is 22.84%.

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.