Shell Asset Management Co. decreased its stake in Cabot Corp. (NYSE:CBT) by 5.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 31,282 shares of the company’s stock after selling 1,778 shares during the period. Shell Asset Management Co.’s holdings in Cabot Corp. were worth $1,428,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. LS Investment Advisors LLC boosted its stake in shares of Cabot Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the company’s stock valued at $171,000 after buying an additional 1,567 shares during the last quarter. Algert Global LLC bought a new stake in shares of Cabot Corp. during the first quarter valued at $279,000. Oakbrook Investments LLC boosted its stake in shares of Cabot Corp. by 9.4% in the second quarter. Oakbrook Investments LLC now owns 5,800 shares of the company’s stock valued at $265,000 after buying an additional 500 shares during the last quarter. Springbok Capital Management LLC boosted its stake in shares of Cabot Corp. by 5,860.0% in the first quarter. Springbok Capital Management LLC now owns 5,960 shares of the company’s stock valued at $288,000 after buying an additional 5,860 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cabot Corp. by 89.6% in the first quarter. Meeder Asset Management Inc. now owns 9,245 shares of the company’s stock valued at $447,000 after buying an additional 4,369 shares during the last quarter. 85.62% of the stock is currently owned by institutional investors.
Shares of Cabot Corp. (NYSE:CBT) traded up 0.33% during mid-day trading on Friday, hitting $52.41. The company had a trading volume of 405,613 shares. Cabot Corp. has a 52-week low of $32.68 and a 52-week high of $53.48. The firm has a 50-day moving average price of $50.43 and a 200 day moving average price of $48.08. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 24.06 and a beta of 1.62.
Cabot Corp. (NYSE:CBT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.93 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.93. The firm had revenue of $621 million for the quarter, compared to analyst estimates of $611.73 million. Cabot Corp. had a net margin of 5.68% and a return on equity of 13.91%. Cabot Corp.’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. Analysts expect that Cabot Corp. will post $3.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were issued a $0.30 dividend. The ex-dividend date was Wednesday, August 24th. This represents a $1.20 dividend on an annualized basis and a yield of 2.29%. Cabot Corp.’s payout ratio is 54.30%.
Several brokerages have issued reports on CBT. Jefferies Group restated a “buy” rating and set a $60.00 target price on shares of Cabot Corp. in a research report on Tuesday, September 13th. Zacks Investment Research upgraded Cabot Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. TheStreet lowered Cabot Corp. from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Deutsche Bank AG boosted their target price on Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, August 12th. Finally, SunTrust Banks Inc. lowered Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Cabot Corp. has an average rating of “Hold” and a consensus price target of $53.17.
In other Cabot Corp. news, Director Patrick M. Prevost sold 47,800 shares of the stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $49.59, for a total value of $2,370,402.00. Following the completion of the sale, the director now owns 326,023 shares in the company, valued at approximately $16,167,480.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP James Patrick Kelly sold 2,500 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $52.95, for a total transaction of $132,375.00. Following the completion of the sale, the vice president now owns 22,085 shares of the company’s stock, valued at approximately $1,169,400.75. The disclosure for this sale can be found here. 2.48% of the stock is currently owned by company insiders.
About Cabot Corp.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
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