Goldman Sachs Group Inc. trimmed its position in shares of Cabot Corp (NYSE:CBT) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 870,140 shares of the specialty chemicals company’s stock after selling 47,948 shares during the period. Goldman Sachs Group Inc. owned 1.41% of Cabot worth $53,592,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CBT. Bank of New York Mellon Corp grew its holdings in Cabot by 113.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,978,158 shares of the specialty chemicals company’s stock valued at $121,834,000 after purchasing an additional 1,052,224 shares during the period. Renaissance Technologies LLC grew its holdings in Cabot by 97.9% during the fourth quarter. Renaissance Technologies LLC now owns 418,000 shares of the specialty chemicals company’s stock valued at $25,745,000 after purchasing an additional 206,800 shares during the period. Fuller & Thaler Asset Management Inc. grew its holdings in Cabot by 9.4% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,780,692 shares of the specialty chemicals company’s stock valued at $99,363,000 after purchasing an additional 152,988 shares during the period. Deutsche Bank AG grew its holdings in Cabot by 78.1% during the fourth quarter. Deutsche Bank AG now owns 341,600 shares of the specialty chemicals company’s stock valued at $21,035,000 after purchasing an additional 149,820 shares during the period. Finally, Citadel Advisors LLC grew its holdings in Cabot by 461.9% during the third quarter. Citadel Advisors LLC now owns 142,133 shares of the specialty chemicals company’s stock valued at $7,931,000 after purchasing an additional 116,836 shares during the period. 87.18% of the stock is owned by institutional investors and hedge funds.
Shares of Cabot stock opened at $59.75 on Monday. The stock has a market capitalization of $3,692.98, a price-to-earnings ratio of 60.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31. Cabot Corp has a 12-month low of $50.21 and a 12-month high of $68.63. The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.
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, topping the 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 firm had revenue of $720.00 million for the quarter, compared to the consensus estimate of $653.54 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. The business’s quarterly revenue was up 17.8% on a year-over-year basis. sell-side analysts forecast that Cabot Corp will post 4.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were given a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.11%. Cabot’s dividend payout ratio (DPR) is presently 128.57%.
CBT has been the subject of several research reports. ValuEngine raised Cabot from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Jefferies Group reissued a “buy” rating and set a $78.00 price objective on shares of Cabot in a report on Thursday, February 8th. SunTrust Banks raised Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Zacks Investment Research downgraded Cabot from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Northcoast Research set a $75.00 target price on Cabot and gave the stock a “buy” rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Cabot currently has a consensus rating of “Buy” and a consensus price target of $72.29.
COPYRIGHT VIOLATION WARNING: “Goldman Sachs Group Inc. Trims Holdings in Cabot Corp (CBT)” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2018/03/19/goldman-sachs-group-inc-trims-holdings-in-cabot-corp-cbt.html.
Cabot Company Profile
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.
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.