Sei Investments Co. increased its position in shares of Cabot Corp (NYSE:CBT) by 137.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,527 shares of the specialty chemicals company’s stock after acquiring an additional 40,219 shares during the quarter. Sei Investments Co. owned approximately 0.11% of Cabot worth $3,874,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Citizens Financial Group Inc RI acquired a new position in shares of Cabot during the 4th quarter valued at about $142,000. Quadrature Capital Ltd acquired a new position in shares of Cabot during the 4th quarter valued at about $219,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cabot by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock valued at $226,000 after acquiring an additional 1,194 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Cabot during the 1st quarter valued at about $247,000. Finally, Quantbot Technologies LP acquired a new position in Cabot in the first quarter valued at about $252,000. 85.56% of the stock is currently owned by hedge funds and other institutional investors.
Get Cabot alerts:A number of research analysts have commented on CBT shares. ValuEngine cut shares of Cabot from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Loop Capital set a $80.00 target price on shares of Cabot and gave the company a “buy” rating in a research report on Monday, April 23rd. Robert W. Baird reaffirmed a “hold” rating and issued a $67.00 target price on shares of Cabot in a research report on Tuesday, April 17th. Zacks Investment Research raised shares of Cabot from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Thursday, May 10th. Finally, TheStreet cut shares of Cabot from a “b-” rating to a “c” rating in a research report on Monday, May 7th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Cabot has an average rating of “Buy” and an average target price of $72.00.
In other news, SVP Brian A. Berube sold 7,311 shares of the stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $60.30, for a total transaction of $440,853.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gottberg Friedrich Von sold 10,000 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $61.23, for a total transaction of $612,300.00. Following the sale, the insider now directly owns 29,854 shares in the company, valued at approximately $1,827,960.42. The disclosure for this sale can be found here. Insiders have sold 228,901 shares of company stock worth $14,194,838 in the last three months. Corporate insiders own 2.20% of the company’s stock.
NYSE CBT opened at $63.33 on Tuesday. Cabot Corp has a 12 month low of $50.56 and a 12 month high of $68.63. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.07 and a current ratio of 1.67. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.50 and a beta of 1.38.
Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, May 7th. The specialty chemicals company reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.04. The business had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $746.30 million. Cabot had a negative net margin of 6.14% and a positive return on equity of 15.83%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. analysts predict that Cabot Corp will post 4.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Thursday, May 24th. This is a boost from Cabot’s previous quarterly dividend of $0.32. Cabot’s dividend payout ratio is currently 38.48%.
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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