Natixis Advisors L.P. Buys 9,501 Shares of Cabot Co. (NYSE:CBT)

Posted by Defense World Staff on Sep 2nd, 2023

Natixis Advisors L.P. grew its stake in shares of Cabot Co. (NYSE:CBT – Free Report) by 27.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,650 shares of the specialty chemicals company’s stock after acquiring an additional 9,501 shares during the quarter. Natixis Advisors L.P. owned about 0.08% of Cabot worth $3,345,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CBT. Metropolitan Life Insurance Co. NY increased its stake in Cabot by 4.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,418 shares of the specialty chemicals company’s stock valued at $228,000 after purchasing an additional 143 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Cabot by 4.4% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,418 shares of the specialty chemicals company’s stock valued at $228,000 after buying an additional 143 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Cabot by 3.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 4,857 shares of the specialty chemicals company’s stock worth $372,000 after purchasing an additional 159 shares in the last quarter. Cibc World Market Inc. boosted its position in shares of Cabot by 2.1% during the first quarter. Cibc World Market Inc. now owns 8,944 shares of the specialty chemicals company’s stock valued at $612,000 after buying an additional 181 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Cabot by 25.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 976 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.

Cabot Trading Up 2.3 %

NYSE:CBT opened at $74.12 on Friday. Cabot Co. has a one year low of $60.50 and a one year high of $83.74. The business has a fifty day moving average price of $68.99 and a 200-day moving average price of $72.12. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.17 and a quick ratio of 1.37.

Cabot (NYSE:CBT – Get Free Report) last issued its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.14). Cabot had a return on equity of 25.98% and a net margin of 7.48%. The company had revenue of $968.00 million during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the company earned $1.73 EPS. The business’s quarterly revenue was down 15.8% compared to the same quarter last year. Sell-side analysts forecast that Cabot Co. will post 5.2 EPS for the current year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a $0.40 dividend. The ex-dividend date is Thursday, August 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. Cabot’s payout ratio is currently 30.25%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Credit Suisse Group reduced their price target on shares of Cabot from $85.00 to $82.00 and set an “outperform” rating for the company in a research note on Tuesday, August 8th. Loop Capital decreased their target price on shares of Cabot from $111.00 to $103.00 in a research note on Tuesday, June 20th. JPMorgan Chase & Co. raised their price target on Cabot from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. StockNews.com initiated coverage on Cabot in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Cabot from $90.00 to $80.00 in a research report on Thursday, May 18th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.75.

View Our Latest Research Report on CBT

Cabot Company Profile

(Free Report)

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.