Raymond James & Associates Has $2.13 Million Stock Position in Cabot Co. (NYSE:CBT)

Raymond James & Associates increased its stake in shares of Cabot Co. (NYSE:CBT – Get Rating) by 13.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 33,326 shares of the specialty chemicals company’s stock after buying an additional 3,977 shares during the period. Raymond James & Associates’ holdings in Cabot were worth $2,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC raised its holdings in Cabot by 295.5% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 59,320 shares of the specialty chemicals company’s stock worth $3,784,000 after purchasing an additional 44,320 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cabot by 0.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 272,040 shares of the specialty chemicals company’s stock worth $17,354,000 after purchasing an additional 1,482 shares during the last quarter. Symphony Financial Ltd. Co. bought a new stake in Cabot during the 2nd quarter worth about $670,000. Hancock Whitney Corp raised its holdings in Cabot by 4.2% during the 2nd quarter. Hancock Whitney Corp now owns 56,959 shares of the specialty chemicals company’s stock worth $3,633,000 after purchasing an additional 2,317 shares during the last quarter. Finally, Paradiem LLC bought a new stake in Cabot during the 3rd quarter worth about $2,985,000. 94.21% of the stock is owned by institutional investors.

Cabot Stock Performance

Shares of CBT stock opened at $72.33 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.65 and a quick ratio of 1.05. The stock has a market cap of $4.07 billion, a PE ratio of 20.09 and a beta of 1.38. The stock has a 50-day moving average of $70.55 and a 200-day moving average of $70.29. Cabot Co. has a one year low of $53.32 and a one year high of $78.62.

Cabot (NYSE:CBT – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The specialty chemicals company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.07. Cabot had a return on equity of 35.30% and a net margin of 4.84%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.04 billion. As a group, sell-side analysts expect that Cabot Co. will post 6.5 earnings per share for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 24th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, February 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.05%. Cabot’s payout ratio is 41.11%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CBT. StockNews.com raised Cabot from a “buy” rating to a “strong-buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised Cabot from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $90.00 in a research note on Wednesday, November 16th.

Cabot Company Profile

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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.