Sei Investments Co. increased its position in Cabot Corporation (NYSE:CBT) by 17.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,462 shares of the specialty chemicals company’s stock after buying an additional 2,785 shares during the period. Sei Investments Co.’s holdings in Cabot Corporation were worth $1,107,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of CBT. Cantab Capital Partners LLP increased its stake in shares of Cabot Corporation by 3.9% in the fourth quarter. Cantab Capital Partners LLP now owns 3,360 shares of the specialty chemicals company’s stock worth $170,000 after buying an additional 126 shares during the period. World Asset Management Inc increased its stake in shares of Cabot Corporation by 0.5% in the first quarter. World Asset Management Inc now owns 4,333 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 20 shares during the period. Teza Capital Management LLC bought a new stake in shares of Cabot Corporation during the first quarter worth about $263,000. James Investment Research Inc. bought a new stake in shares of Cabot Corporation during the first quarter worth about $304,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Cabot Corporation during the fourth quarter worth about $338,000. 85.53% of the stock is owned by institutional investors and hedge funds.
Cabot Corporation (NYSE:CBT) opened at 54.05 on Friday. The firm has a 50-day moving average price of $53.22 and a 200 day moving average price of $55.41. The firm has a market capitalization of $3.38 billion, a P/E ratio of 14.47 and a beta of 1.08. Cabot Corporation has a 52-week low of $42.27 and a 52-week high of $61.34.
Cabot Corporation (NYSE:CBT) last announced its quarterly earnings results on Monday, May 1st. The specialty chemicals company reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.02. The company had revenue of $678 million during the quarter, compared to analyst estimates of $637.57 million. Cabot Corporation had a return on equity of 16.83% and a net margin of 9.33%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. Analysts forecast that Cabot Corporation will post $3.47 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 26th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Wednesday, May 24th. This is a positive change from Cabot Corporation’s previous quarterly dividend of $0.30. This represents a $1.26 annualized dividend and a yield of 2.33%. Cabot Corporation’s dividend payout ratio is currently 33.69%.
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A number of brokerages have issued reports on CBT. BidaskClub raised Cabot Corporation from a “sell” rating to a “hold” rating in a research note on Friday. Aegis reaffirmed a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Jefferies Group LLC set a $68.00 target price on Cabot Corporation and gave the stock a “buy” rating in a research note on Thursday, June 8th. Zacks Investment Research downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Finally, SunTrust Banks, Inc. began coverage on Cabot Corporation in a research report on Tuesday, April 18th. They set a “buy” rating and a $56.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cabot Corporation has a consensus rating of “Hold” and a consensus price target of $61.00.
Cabot Corporation 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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