Central Pacific Bank Trust Division Makes New $466,000 Investment in Cabot Co. (NYSE:CBT)

Central Pacific Bank Trust Division acquired a new position in shares of Cabot Co. (NYSE:CBT) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 5,018 shares of the specialty chemicals company’s stock, valued at approximately $466,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Cabot by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 6,361,129 shares of the specialty chemicals company’s stock worth $440,635,000 after acquiring an additional 24,961 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Cabot by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after buying an additional 20,589 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Cabot by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,313,254 shares of the specialty chemicals company’s stock valued at $109,664,000 after buying an additional 32,735 shares during the period. Sei Investments Co. lifted its holdings in shares of Cabot by 33.9% in the 4th quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock valued at $67,854,000 after buying an additional 205,582 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cabot by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 674,627 shares of the specialty chemicals company’s stock valued at $56,331,000 after buying an additional 5,831 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on CBT shares. UBS Group raised their price target on Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft cut Cabot from a “buy” rating to a “hold” rating and raised their price target for the company from $88.00 to $95.00 in a report on Thursday, April 18th. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Finally, Mizuho lifted their price objective on Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.80.

Cabot Price Performance

CBT stock traded up $0.79 during midday trading on Wednesday, hitting $89.03. 12,703 shares of the stock were exchanged, compared to its average volume of 315,939. The stock’s 50-day moving average price is $97.48 and its 200-day moving average price is $89.05. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.89 and a beta of 1.20. Cabot Co. has a fifty-two week low of $64.51 and a fifty-two week high of $103.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 2.24.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.12. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.04 billion. Cabot had a return on equity of 26.21% and a net margin of 11.51%. Cabot’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. Research analysts predict that Cabot Co. will post 6.78 earnings per share for the current year.

Cabot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.43 per share. This is an increase from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.72 annualized dividend and a yield of 1.93%. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.73, for a total transaction of $1,400,211.72. Following the completion of the transaction, the senior vice president now owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.07% of the stock is currently owned by company insiders.

Cabot 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.