Mutual of America Capital Management LLC Has $2.64 Million Holdings in Cabot Co. (NYSE:CBT)

Mutual of America Capital Management LLC trimmed its position in shares of Cabot Co. (NYSE:CBT) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,960 shares of the specialty chemicals company’s stock after selling 671 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Cabot worth $2,644,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CBT. Farther Finance Advisors LLC raised its position in shares of Cabot by 197.9% during the third quarter. Farther Finance Advisors LLC now owns 417 shares of the specialty chemicals company’s stock worth $47,000 after purchasing an additional 277 shares during the period. Van ECK Associates Corp raised its position in shares of Cabot by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,549 shares of the specialty chemicals company’s stock worth $3,445,000 after purchasing an additional 9,014 shares during the period. Consolidated Planning Corp acquired a new position in shares of Cabot during the third quarter worth approximately $458,000. Fiera Capital Corp bought a new stake in Cabot during the third quarter worth $19,643,000. Finally, Assetmark Inc. grew its holdings in Cabot by 20,489.3% during the third quarter. Assetmark Inc. now owns 5,765 shares of the specialty chemicals company’s stock worth $644,000 after buying an additional 5,737 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Up 0.9 %

Shares of NYSE:CBT opened at $84.84 on Friday. The company has a market capitalization of $4.60 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.74 and a beta of 1.21. 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 business has a fifty day moving average price of $87.62 and a two-hundred day moving average price of $100.24. Cabot Co. has a 1 year low of $79.57 and a 1 year high of $117.46.

Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. Analysts forecast that Cabot Co. will post 7.57 earnings per share for the current year.

Cabot declared that its Board of Directors has approved a share repurchase plan on Tuesday, December 3rd that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, February 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.03%. Cabot’s dividend payout ratio is presently 22.84%.

Wall Street Analyst Weigh In

CBT has been the subject of several recent research reports. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. 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 decreased their price target on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.00.

Cabot Company 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.