LS Investment Advisors LLC cut its holdings in Cabot Corp (NYSE:CBT) by 18.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,861 shares of the specialty chemicals company’s stock after selling 879 shares during the quarter. LS Investment Advisors LLC’s holdings in Cabot were worth $238,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Parametrica Management Ltd bought a new position in Cabot in the third quarter valued at about $217,000. Virginia Retirement Systems ET AL bought a new position in Cabot in the third quarter valued at about $218,000. State of Alaska Department of Revenue bought a new position in Cabot in the fourth quarter valued at about $221,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Cabot by 48.4% in the fourth 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, Dynamic Technology Lab Private Ltd bought a new position in Cabot in the third quarter valued at about $272,000. 83.56% of the stock is currently owned by institutional investors and hedge funds.
Cabot Corp (CBT) opened at $63.62 on Thursday. Cabot Corp has a 1 year low of $50.21 and a 1 year high of $68.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.63. The stock has a market capitalization of $3,944.53, a PE ratio of 18.13, a PEG ratio of 1.56 and a beta of 1.25.
Cabot (NYSE:CBT) last issued its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.15. Cabot had a return on equity of 15.01% and a net margin of 2.30%. The company had revenue of $720.00 million during the quarter, compared to the consensus estimate of $653.54 million. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. research analysts predict that Cabot Corp will post 4.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.98%. Cabot’s dividend payout ratio (DPR) is 128.57%.
Several research firms have commented on CBT. Northcoast Research set a $75.00 target price on Cabot and gave the company a “buy” rating in a research report on Monday, February 12th. Zacks Investment Research upgraded Cabot from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Friday, February 9th. Jefferies Group reiterated a “buy” rating and issued a $78.00 target price on shares of Cabot in a research report on Thursday, February 8th. ValuEngine upgraded Cabot from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, SunTrust Banks upgraded Cabot to a “buy” rating and set a $73.00 target price for the company in a research report on Tuesday, January 16th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Cabot currently has a consensus rating of “Buy” and a consensus target price 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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