Verition Fund Management LLC purchased a new stake in Cabot Corp (NYSE:CBT) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,868 shares of the specialty chemicals company’s stock, valued at approximately $669,000.
Other large investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its stake in Cabot by 4.4% in the 3rd quarter. California Public Employees Retirement System now owns 129,381 shares of the specialty chemicals company’s stock worth $7,219,000 after acquiring an additional 5,481 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Cabot during the 3rd quarter worth about $330,000. New Mexico Educational Retirement Board purchased a new stake in shares of Cabot during the 4th quarter worth about $948,000. Swiss National Bank raised its stake in shares of Cabot by 1.8% during the 4th quarter. Swiss National Bank now owns 106,000 shares of the specialty chemicals company’s stock worth $6,529,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of Cabot by 7.3% during the 4th quarter. Aperio Group LLC now owns 20,657 shares of the specialty chemicals company’s stock worth $1,272,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.
Shares of CBT stock opened at $58.48 on Wednesday. Cabot Corp has a fifty-two week low of $50.21 and a fifty-two week high of $68.63. The firm has a market capitalization of $3,657.13, a P/E ratio of 59.67, a PEG ratio of 1.46 and a beta of 1.31. The company has a current ratio of 1.63, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43.
Cabot (NYSE:CBT) last announced its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.15. Cabot had a return on equity of 15.01% and a net margin of 2.30%. The company had revenue of $720.00 million for the quarter, compared to analyst estimates of $653.54 million. During the same quarter last year, the firm earned $0.84 EPS. Cabot’s revenue for the quarter was up 17.8% compared to the same quarter last year. research analysts expect that Cabot Corp will post 4.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 23rd were given a dividend of $0.315 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.15%. Cabot’s dividend payout ratio (DPR) is presently 128.57%.
A number of research firms have recently weighed in on CBT. ValuEngine downgraded Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird assumed coverage on Cabot in a report on Tuesday, February 27th. They set a “neutral” rating and a $72.00 price objective on the stock. Northcoast Research set a $75.00 price objective on Cabot and gave the company a “buy” rating in a report on Monday, February 12th. Zacks Investment Research raised Cabot from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Friday, February 9th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $78.00 target price on shares of Cabot in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $72.29.
Cabot 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.
Want to see what other hedge funds are holding CBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Corp (NYSE:CBT).
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.