Envestnet Portfolio Solutions Inc. Sells 2,125 Shares of Cabot Co. (NYSE:CBT)

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Cabot Co. (NYSE:CBT) by 22.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,213 shares of the specialty chemicals company’s stock after selling 2,125 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cabot were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Natixis Advisors LLC grew its position in shares of Cabot by 7.0% in the 4th quarter. Natixis Advisors LLC now owns 124,079 shares of the specialty chemicals company’s stock worth $11,330,000 after buying an additional 8,068 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Cabot by 17.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 47,300 shares of the specialty chemicals company’s stock worth $4,287,000 after purchasing an additional 7,000 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Cabot in the fourth quarter worth $500,000. EverSource Wealth Advisors LLC lifted its holdings 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 valued at $74,000 after purchasing an additional 219 shares during the last quarter. Finally, Isthmus Partners LLC boosted its position in shares of Cabot by 4.8% in the 4th quarter. Isthmus Partners LLC now owns 4,072 shares of the specialty chemicals company’s stock worth $372,000 after purchasing an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Trading Up 2.3 %

Cabot stock opened at $84.06 on Tuesday. The stock has a 50-day moving average price of $86.28 and a 200 day moving average price of $98.62. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. Cabot Co. has a 52 week low of $79.57 and a 52 week high of $117.46. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS 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%. Sell-side analysts anticipate that Cabot Co. will post 7.57 EPS for the current year.

Cabot Dividend Announcement

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

Cabot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 3rd that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CBT shares. StockNews.com lowered Cabot from a “buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Mizuho decreased their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $97.00.

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.