Quantitative Investment Management LLC bought a new stake in shares of Cabot Corp (NYSE:CBT) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 72,100 shares of the specialty chemicals company’s stock, valued at approximately $4,440,000. Quantitative Investment Management LLC owned 0.12% of Cabot at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Gratus Capital LLC boosted its holdings in shares of Cabot by 9.9% during the third quarter. Gratus Capital LLC now owns 8,853 shares of the specialty chemicals company’s stock worth $494,000 after purchasing an additional 800 shares during the period. OppenheimerFunds Inc. boosted its holdings in shares of Cabot by 6.5% during the fourth quarter. OppenheimerFunds Inc. now owns 13,782 shares of the specialty chemicals company’s stock worth $849,000 after purchasing an additional 844 shares during the period. American International Group Inc. boosted its holdings in shares of Cabot by 0.7% during the fourth quarter. American International Group Inc. now owns 128,162 shares of the specialty chemicals company’s stock worth $7,893,000 after purchasing an additional 855 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Cabot by 11.5% during the third quarter. Pacer Advisors Inc. now owns 9,232 shares of the specialty chemicals company’s stock worth $515,000 after purchasing an additional 950 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cabot by 48.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock worth $226,000 after purchasing an additional 1,194 shares during the period. 87.18% of the stock is currently owned by institutional investors.
Shares of Cabot stock opened at $54.14 on Friday. The firm has a market capitalization of $3,383.32, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.35 and a beta of 1.40. 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 Corp has a 52-week low of $50.21 and a 52-week high of $68.63.
Cabot (NYSE:CBT) last announced its quarterly 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. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The firm had revenue of $720.00 million for the quarter, compared to analyst estimates of $653.54 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. analysts expect that Cabot Corp will post 4.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.33%. Cabot’s dividend payout ratio is presently 36.73%.
A number of analysts have issued reports on CBT shares. ValuEngine cut shares of Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. SunTrust Banks upgraded shares of Cabot to a “buy” rating and set a $73.00 target price for the company in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Wednesday, January 17th. Robert W. Baird started coverage on shares of Cabot in a research note on Tuesday, February 27th. They issued a “neutral” rating and a $72.00 price objective for the company. Finally, Loop Capital upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Friday, January 5th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $72.29.
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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.
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