Victory Capital Management Inc. boosted its position in shares of Cabot Corporation (NYSE:CBT) by 37.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,102,342 shares of the specialty chemicals company’s stock after purchasing an additional 302,750 shares during the quarter. Victory Capital Management Inc. owned approximately 1.77% of Cabot Corporation worth $61,511,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CBT. BlackRock Inc. lifted its position in shares of Cabot Corporation by 7.2% in the second quarter. BlackRock Inc. now owns 7,544,005 shares of the specialty chemicals company’s stock valued at $403,077,000 after acquiring an additional 505,594 shares in the last quarter. LSV Asset Management lifted its position in Cabot Corporation by 1.5% during the second quarter. LSV Asset Management now owns 3,059,449 shares of the specialty chemicals company’s stock worth $163,466,000 after buying an additional 43,976 shares during the period. State Street Corp lifted its position in Cabot Corporation by 5.1% during the second quarter. State Street Corp now owns 1,751,827 shares of the specialty chemicals company’s stock worth $93,598,000 after buying an additional 84,905 shares during the period. Earnest Partners LLC lifted its position in Cabot Corporation by 41.8% during the second quarter. Earnest Partners LLC now owns 1,491,521 shares of the specialty chemicals company’s stock worth $79,692,000 after buying an additional 439,350 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cabot Corporation by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,443,849 shares of the specialty chemicals company’s stock worth $77,144,000 after buying an additional 103,005 shares during the period. Institutional investors own 84.28% of the company’s stock.
Several equities analysts recently weighed in on CBT shares. Jefferies Group LLC reiterated a “buy” rating and set a $74.00 target price on shares of Cabot Corporation in a research report on Friday, November 3rd. Zacks Investment Research lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. BidaskClub lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. ValuEngine lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, KeyCorp reiterated a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, November 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.14.
In related news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total value of $207,206.59. Following the sale, the insider now owns 27,736 shares of the company’s stock, valued at approximately $1,480,825.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.
Cabot Corporation (NYSE:CBT) opened at $61.57 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. Cabot Corporation has a 1-year low of $50.21 and a 1-year high of $64.66. The company has a market capitalization of $3,851.68, a PE ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 1.11.
Cabot Corporation (NYSE:CBT) last released its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cabot Corporation had a return on equity of 15.11% and a net margin of 8.87%. The firm had revenue of $723.00 million for the quarter, compared to the consensus estimate of $683.30 million. During the same period in the prior year, the business earned $1.00 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. equities analysts forecast that Cabot Corporation will post 3.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 22nd. Cabot Corporation’s dividend payout ratio (DPR) is 33.07%.
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.
Receive News & Ratings for Cabot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Corporation and related companies with MarketBeat.com's FREE daily email newsletter.