Citizens Financial Group Inc RI bought a new position in Cabot Corp (NYSE:CBT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,300 shares of the specialty chemicals company’s stock, valued at approximately $142,000.
Several other large investors have also added to or reduced their stakes in the company. Gratus Capital LLC grew its position in shares of Cabot by 9.9% in the 3rd quarter. Gratus Capital LLC now owns 8,853 shares of the specialty chemicals company’s stock worth $494,000 after buying an additional 800 shares during the period. American International Group Inc. grew its position in Cabot by 0.7% during the 4th quarter. American International Group Inc. now owns 128,162 shares of the specialty chemicals company’s stock valued at $7,893,000 after purchasing an additional 855 shares during the last quarter. Pacer Advisors Inc. grew its position in Cabot by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 9,232 shares of the specialty chemicals company’s stock valued at $515,000 after purchasing an additional 950 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Cabot by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock valued at $226,000 after purchasing an additional 1,194 shares during the last quarter. Finally, Aperio Group LLC grew its position in Cabot by 7.3% during the 4th quarter. Aperio Group LLC now owns 20,657 shares of the specialty chemicals company’s stock valued at $1,272,000 after purchasing an additional 1,400 shares during the last quarter. 83.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cabot Corp (NYSE:CBT) opened at $63.90 on Tuesday. Cabot Corp has a 1 year low of $50.21 and a 1 year high of $68.63. The company has a market cap of $3,949.48, a PE ratio of 18.15, a P/E/G ratio of 1.57 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.63.
Cabot (NYSE:CBT) last posted its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.15. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $653.54 million. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 EPS. equities analysts predict that Cabot Corp will post 4.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, February 22nd. Cabot’s dividend payout ratio is currently 128.57%.
Several brokerages recently commented on CBT. Northcoast Research set a $75.00 price objective on shares of Cabot and gave the company a “buy” rating in a research report on Monday, February 12th. Zacks Investment Research raised shares of Cabot from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Friday, February 9th. Jefferies Group reissued a “buy” rating and set a $78.00 price objective on shares of Cabot in a research report on Thursday, February 8th. ValuEngine raised shares of Cabot from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks raised shares of Cabot to a “buy” rating and set a $73.00 price objective on the stock in a research report on Tuesday, January 16th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.33.
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Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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