Wellington Management Group LLP Reduces Stock Holdings in Cabot Co. (NYSE:CBT)

Wellington Management Group LLP reduced its stake in shares of Cabot Co. (NYSE:CBT) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,903,849 shares of the specialty chemicals company’s stock after selling 4,646 shares during the quarter. Wellington Management Group LLP owned 8.85% of Cabot worth $409,471,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Cabot during the 4th quarter valued at about $258,000. Eventide Asset Management LLC acquired a new stake in Cabot during the 4th quarter valued at approximately $6,919,000. Sei Investments Co. grew its stake in Cabot by 33.9% during the 4th quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock valued at $67,854,000 after purchasing an additional 205,582 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Cabot by 17.4% in the 4th quarter. Personal CFO Solutions LLC now owns 4,266 shares of the specialty chemicals company’s stock worth $356,000 after acquiring an additional 633 shares in the last quarter. Finally, Quadrature Capital Ltd grew its position in shares of Cabot by 267.3% in the 4th quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company’s stock worth $950,000 after acquiring an additional 8,282 shares in the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Karen A. Kalita sold 13,764 shares of Cabot stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.73, for a total transaction of $1,400,211.72. Following the transaction, the senior vice president now owns 34,312 shares in the company, valued at $3,490,559.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.07% of the stock is currently owned by corporate insiders.

Cabot Stock Performance

Shares of NYSE CBT opened at $97.00 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.96 and a beta of 1.26. The stock’s fifty day simple moving average is $97.68 and its 200 day simple moving average is $87.51. Cabot Co. has a 52-week low of $63.73 and a 52-week high of $103.49.

Cabot (NYSE:CBT) last issued its earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.33 EPS. As a group, sell-side analysts forecast that Cabot Co. will post 6.78 earnings per share for the current fiscal year.

Cabot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 31st. Cabot’s payout ratio is presently 21.77%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho lifted their target price on Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. StockNews.com upgraded Cabot from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and lifted their target price for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. Finally, UBS Group boosted their price objective on Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

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.