UBS Asset Management Americas Inc. decreased its position in Cabot Corp. (NYSE:CBT) by 0.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 61,209 shares of the company’s stock after selling 299 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.10% of Cabot Corp. worth $2,795,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bbva Compass Bancshares Inc. boosted its stake in shares of Cabot Corp. by 0.9% in the second quarter. Bbva Compass Bancshares Inc. now owns 9,086 shares of the company’s stock worth $415,000 after buying an additional 82 shares in the last quarter. State Treasurer State of Michigan boosted its stake in shares of Cabot Corp. by 0.8% in the second quarter. State Treasurer State of Michigan now owns 25,080 shares of the company’s stock worth $1,145,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Cabot Corp. by 14.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,636 shares of the company’s stock worth $121,000 after buying an additional 333 shares in the last quarter. 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 worth $265,000 after buying an additional 500 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of Cabot Corp. by 5.9% in the second quarter. First Citizens Bank & Trust Co. now owns 9,369 shares of the company’s stock worth $428,000 after buying an additional 519 shares in the last quarter. Institutional investors own 85.62% of the company’s stock.
Shares of Cabot Corp. (NYSE:CBT) traded up 0.63% on Thursday, reaching $52.75. The company’s stock had a trading volume of 54,015 shares. Cabot Corp. has a 52-week low of $35.03 and a 52-week high of $53.48. The stock has a market cap of $3.29 billion, a P/E ratio of 24.22 and a beta of 1.39. The firm’s 50 day moving average is $50.76 and its 200-day moving average is $48.17.
Cabot Corp. (NYSE:CBT) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.93. The business had revenue of $621 million for the quarter, compared to analyst estimates of $611.73 million. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. 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 earnings per share. On average, equities research analysts forecast that Cabot Corp. will post $3.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.20 dividend on an annualized basis and a yield of 2.29%. Cabot Corp.’s dividend payout ratio (DPR) is currently 54.30%.
A number of brokerages have recently issued reports on CBT. SunTrust Banks Inc. cut Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price objective on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Cabot Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. TheStreet cut Cabot Corp. from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Jefferies Group restated a “buy” rating and issued a $60.00 price target on shares of Cabot Corp. in a research note on Tuesday, September 13th. Finally, Deutsche Bank AG increased their price target on Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.17.
In other Cabot Corp. news, VP James Patrick Kelly sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $52.95, for a total value of $132,375.00. Following the sale, the vice president now directly owns 22,085 shares in the company, valued at $1,169,400.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Brian A. Berube sold 16,489 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $49.90, for a total value of $822,801.10. Following the completion of the sale, the senior vice president now owns 42,622 shares in the company, valued at $2,126,837.80. The disclosure for this sale can be found here. Corporate insiders own 2.48% of the company’s stock.
Cabot Corp. Company Profile
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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