Two Sigma Advisers LP increased its position in Cabot Corporation (NYSE:CBT) by 42.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,452 shares of the company’s stock after buying an additional 21,600 shares during the period. Two Sigma Advisers LP owned about 0.12% of Cabot Corporation worth $3,797,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in CBT. Tower Research Capital LLC TRC boosted its stake in shares of Cabot Corporation by 812.2% in the third quarter. Tower Research Capital LLC TRC now owns 3,366 shares of the company’s stock worth $176,000 after buying an additional 2,997 shares in the last quarter. TradeLink Capital LLC bought a new stake in shares of Cabot Corporation during the second quarter worth $204,000. LS Investment Advisors LLC boosted its stake in shares of Cabot Corporation by 7.0% in the third quarter. LS Investment Advisors LLC now owns 4,009 shares of the company’s stock worth $210,000 after buying an additional 263 shares in the last quarter. World Asset Management Inc bought a new stake in shares of Cabot Corporation during the third quarter worth $239,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Cabot Corporation by 9.3% in the third quarter. Pacer Advisors Inc. now owns 5,799 shares of the company’s stock worth $304,000 after buying an additional 492 shares in the last quarter. 86.22% of the stock is owned by institutional investors.
Cabot Corporation (NYSE:CBT) remained flat at $57.55 during trading on Friday. The stock had a trading volume of 450,874 shares. The stock has a market cap of $3.58 billion, a P/E ratio of 17.39 and a beta of 1.21. Cabot Corporation has a 12-month low of $40.72 and a 12-month high of $60.72. The firm has a 50-day moving average price of $54.29 and a 200 day moving average price of $51.65.
Cabot Corporation (NYSE:CBT) last released its earnings results on Wednesday, February 1st. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.14. The firm earned $611 million during the quarter, compared to analysts’ expectations of $609.25 million. Cabot Corporation had a return on equity of 16.25% and a net margin of 8.68%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. On average, equities research analysts forecast that Cabot Corporation will post $3.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 24th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. Cabot Corporation’s dividend payout ratio is 36.14%.
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A number of brokerages have weighed in on CBT. Aegis began coverage on Cabot Corporation in a research report on Friday, January 13th. They issued a “hold” rating and a $59.00 price target for the company. Zacks Investment Research raised Cabot Corporation from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Cabot Corporation in a research report on Monday, November 7th. Finally, TheStreet cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $55.50.
In other news, SVP Brian A. Berube sold 39,215 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $57.56, for a total transaction of $2,257,215.40. Following the completion of the transaction, the senior vice president now directly owns 66,735 shares in the company, valued at approximately $3,841,266.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick M. Prevost sold 62,400 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $57.48, for a total transaction of $3,586,752.00. Following the transaction, the director now owns 315,620 shares of the company’s stock, valued at $18,141,837.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,723 shares of company stock valued at $14,716,169. Company insiders own 2.50% of the company’s stock.
About Cabot Corporation
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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