Hennessy Advisors Inc. lowered its position in Cabot Corporation (NYSE:CBT) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 577,589 shares of the specialty chemicals company’s stock after selling 24,800 shares during the period. Hennessy Advisors Inc. owned 0.93% of Cabot Corporation worth $30,861,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after acquiring an additional 131,109 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Cabot Corporation in the second quarter valued at approximately $432,000. KCG Holdings Inc. raised its stake in shares of Cabot Corporation by 6.6% in the first quarter. KCG Holdings Inc. now owns 7,508 shares of the specialty chemicals company’s stock valued at $450,000 after acquiring an additional 467 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Cabot Corporation by 30.0% in the first quarter. Legal & General Group Plc now owns 68,671 shares of the specialty chemicals company’s stock valued at $4,112,000 after acquiring an additional 15,829 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Cabot Corporation by 29.0% in the first quarter. Pacer Advisors Inc. now owns 7,691 shares of the specialty chemicals company’s stock valued at $461,000 after acquiring an additional 1,727 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

Cabot Corporation (CBT) traded up 0.15% on Thursday, hitting $52.77. 43,311 shares of the stock were exchanged. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34. The company has a 50-day moving average price of $52.90 and a 200 day moving average price of $55.06. The company has a market capitalization of $3.28 billion, a PE ratio of 14.78 and a beta of 1.09.

Cabot Corporation (NYSE:CBT) last released its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.04. The firm had revenue of $705 million during the quarter, compared to the consensus estimate of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Analysts anticipate that Cabot Corporation will post $3.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a $0.315 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.26 annualized dividend and a dividend yield of 2.39%. Cabot Corporation’s payout ratio is currently 35.29%.

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A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Aegis reiterated a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Finally, Jefferies Group LLC set a $68.00 target price on shares of Cabot Corporation and gave the company a “buy” rating in a research note on Thursday, June 8th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.50.

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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Institutional Ownership by Quarter for Cabot Corporation (NYSE:CBT)

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