Financial Counselors Inc. Has $781,000 Position in Cabot Corporation (CBT)
Financial Counselors Inc. lessened its stake in Cabot Corporation (NYSE:CBT) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,616 shares of the specialty chemicals company’s stock after selling 100 shares during the quarter. Financial Counselors Inc.’s holdings in Cabot Corporation were worth $781,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Cabot Corporation by 5,702.4% in the first quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock valued at $421,670,000 after purchasing an additional 6,917,109 shares in the last quarter. LSV Asset Management grew its position in Cabot Corporation by 1.5% in 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 acquiring an additional 43,976 shares during the last quarter. AQR Capital Management LLC grew its position in Cabot Corporation by 1.3% in the first quarter. AQR Capital Management LLC now owns 2,503,497 shares of the specialty chemicals company’s stock valued at $149,984,000 after acquiring an additional 31,318 shares during the last quarter. Wellington Management Group LLP grew its position in Cabot Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 1,484,256 shares of the specialty chemicals company’s stock valued at $88,922,000 after acquiring an additional 12,585 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Cabot Corporation by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock valued at $84,251,000 after acquiring an additional 27,957 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.
Cabot Corporation (CBT) opened at 52.93 on Wednesday. The stock’s 50 day moving average price is $52.74 and its 200-day moving average price is $54.95. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 14.83 and a beta of 1.09. Cabot Corporation has a 12 month low of $47.99 and a 12 month high of $61.34.
Cabot Corporation (NYSE:CBT) last released its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). The firm had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. Equities analysts anticipate that Cabot Corporation will post $3.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Wednesday, August 23rd. Cabot Corporation’s payout ratio is presently 35.29%.
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Several research firms have recently weighed in on CBT. Zacks Investment Research upgraded Cabot Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Northcoast Research upgraded Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Wednesday, May 24th. BidaskClub upgraded Cabot Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC set a $68.00 price target on Cabot Corporation and gave the stock a “buy” rating in a report on Thursday, June 8th. Finally, J P Morgan Chase & Co upgraded Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus 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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