Delphi Management Inc. MA Has $1.27 Million Position in Cabot Co. (NYSE:CBT)

Delphi Management Inc. MA trimmed its holdings in shares of Cabot Co. (NYSE:CBT) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,878 shares of the specialty chemicals company’s stock after selling 186 shares during the period. Delphi Management Inc. MA’s holdings in Cabot were worth $1,267,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new stake in Cabot during the fourth quarter worth about $26,000. First Horizon Advisors Inc. raised its stake in shares of Cabot by 22.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 650 shares of the specialty chemicals company’s stock worth $73,000 after purchasing an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cabot by 10.7% in the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock valued at $123,000 after buying an additional 130 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in shares of Cabot by 1,685.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company’s stock valued at $153,000 after buying an additional 1,584 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CBT. Mizuho cut their price target on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $97.00.

Cabot Price Performance

NYSE:CBT opened at $84.05 on Tuesday. The firm’s fifty day moving average price is $86.73 and its two-hundred day moving average price is $99.29. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. The company has a market cap of $4.56 billion, a P/E ratio of 11.16, a P/E/G ratio of 0.74 and a beta of 1.21. Cabot Co. has a one year low of $79.57 and a one year high of $117.46.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, beating 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%. Equities analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.72 annualized dividend and a yield of 2.05%. Cabot’s dividend payout ratio (DPR) is presently 22.84%.

Cabot announced that its board has authorized a share buyback program on Tuesday, December 3rd that permits the company to buyback 10,000,000 shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.