Cabot Corp (CBT) Shares Sold by Axa

Axa lessened its position in shares of Cabot Corp (NYSE:CBT) by 97.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the specialty chemicals company’s stock after selling 142,070 shares during the quarter. Axa’s holdings in Cabot were worth $232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CBT. Bessemer Group Inc. grew its holdings in Cabot by 575.7% during the 3rd quarter. Bessemer Group Inc. now owns 2,034 shares of the specialty chemicals company’s stock valued at $128,000 after buying an additional 1,733 shares in the last quarter. Signition LP purchased a new position in Cabot during the 2nd quarter valued at approximately $234,000. Strs Ohio purchased a new position in Cabot during the 2nd quarter valued at approximately $349,000. Seven Eight Capital LP bought a new stake in shares of Cabot in the 3rd quarter valued at approximately $370,000. Finally, Commonwealth Bank of Australia bought a new stake in shares of Cabot in the 3rd quarter valued at approximately $401,000. Institutional investors and hedge funds own 86.43% of the company’s stock.

NYSE:CBT opened at $45.62 on Monday. The company has a market capitalization of $2.74 billion, a PE ratio of 11.32, a P/E/G ratio of 0.94 and a beta of 1.49. Cabot Corp has a 1 year low of $45.37 and a 1 year high of $68.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.46 and a quick ratio of 0.92.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, November 5th. The specialty chemicals company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.09). The company had revenue of $850.00 million during the quarter, compared to the consensus estimate of $856.76 million. Cabot had a negative net margin of 3.49% and a positive return on equity of 18.82%. Cabot’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 earnings per share. Research analysts expect that Cabot Corp will post 4.6 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, November 29th. Cabot’s dividend payout ratio is currently 32.75%.

CBT has been the subject of several analyst reports. ValuEngine lowered Cabot from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Northcoast Research set a $75.00 price objective on Cabot and gave the company a “buy” rating in a research note on Wednesday, November 7th. Loop Capital set a $82.00 price objective on Cabot and gave the company a “buy” rating in a research note on Tuesday, November 6th. Barclays initiated coverage on Cabot in a research note on Monday, October 8th. They issued an “overweight” rating and a $76.00 price objective for the company. Finally, TheStreet lowered Cabot from a “b” rating to a “c+” rating in a research note on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Cabot has an average rating of “Buy” and a consensus target price of $75.00.

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About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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