Keybank National Association OH boosted its holdings in shares of Cabot Corporation (NYSE:CBT) by 19.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,900 shares of the specialty chemicals company’s stock after buying an additional 4,000 shares during the quarter. Keybank National Association OH’s holdings in Cabot Corporation were worth $1,389,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Cabot Corporation by 7.2% during the second quarter. BlackRock Inc. now owns 7,544,005 shares of the specialty chemicals company’s stock valued at $403,077,000 after buying an additional 505,594 shares during the period. LSV Asset Management grew 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 valued at $163,466,000 after buying an additional 43,976 shares during the period. State Street Corp grew 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 valued at $93,598,000 after buying an additional 84,905 shares during the period. Earnest Partners LLC grew 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 valued at $79,692,000 after buying an additional 439,350 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 valued at $77,144,000 after buying an additional 103,005 shares during the period. Institutional investors own 84.28% of the company’s stock.
In related news, insider Hobart Kalkstein sold 3,881 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.39, for a total transaction of $207,206.59. Following the completion of the transaction, the insider now owns 27,736 shares in the company, valued at $1,480,825.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
Cabot Corporation (CBT) opened at $62.24 on Monday. The firm has a market cap of $3,851.68, a P/E ratio of 18.15, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11. Cabot Corporation has a 12-month low of $49.70 and a 12-month high of $64.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.17.
Cabot Corporation (NYSE:CBT) last posted its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to the consensus estimate of $683.30 million. Cabot Corporation had a return on equity of 15.11% and a net margin of 8.87%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. sell-side analysts anticipate that Cabot Corporation will post 3.79 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.02%. Cabot Corporation’s dividend payout ratio is 33.07%.
CBT has been the subject of several recent research reports. Zacks Investment Research lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. KeyCorp reiterated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, November 1st. J P Morgan Chase & Co upgraded shares of Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research report on Tuesday, August 15th. Finally, Loop Capital started coverage on shares of Cabot Corporation in a research report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $61.14.
Cabot Corporation 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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