Amalgamated Bank cut its position in shares of Cabot Co. (NYSE:CBT – Free Report) by 2.6% during the third quarter, Holdings Channel reports. The institutional investor owned 35,664 shares of the specialty chemicals company’s stock after selling 951 shares during the quarter. Amalgamated Bank’s holdings in Cabot were worth $2,470,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY raised its position in Cabot by 4.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,418 shares of the specialty chemicals company’s stock worth $228,000 after purchasing an additional 143 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Cabot by 26.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 683 shares of the specialty chemicals company’s stock valued at $46,000 after acquiring an additional 144 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Cabot by 3.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 4,857 shares of the specialty chemicals company’s stock valued at $372,000 after acquiring an additional 159 shares during the last quarter. Arizona State Retirement System raised its position in shares of Cabot by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 15,986 shares of the specialty chemicals company’s stock valued at $1,107,000 after acquiring an additional 166 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its position in shares of Cabot by 5.6% during the 1st quarter. Snowden Capital Advisors LLC now owns 3,323 shares of the specialty chemicals company’s stock valued at $255,000 after acquiring an additional 176 shares during the last quarter. 91.05% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CBT has been the subject of a number of research analyst reports. UBS Group lowered shares of Cabot from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $87.00 in a research note on Monday, January 8th. StockNews.com upgraded shares of Cabot from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.40.
Cabot Trading Down 0.3 %
Shares of Cabot stock opened at $79.85 on Monday. Cabot Co. has a 52-week low of $63.73 and a 52-week high of $86.67. The stock’s 50-day simple moving average is $78.23 and its 200 day simple moving average is $73.33. The stock has a market capitalization of $4.43 billion, a P/E ratio of 10.37, a P/E/G ratio of 2.47 and a beta of 1.24. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.27 and a current ratio of 2.04.
Cabot Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 23rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. Cabot’s dividend payout ratio is currently 20.78%.
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.
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