Strategic Global Advisors LLC cut its stake in Cabot Corporation (NYSE:CBT) by 33.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,541 shares of the specialty chemicals company’s stock after selling 3,780 shares during the quarter. Strategic Global Advisors LLC’s holdings in Cabot Corporation were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. World Asset Management Inc raised its stake in shares of Cabot Corporation by 0.5% in the first quarter. World Asset Management Inc now owns 4,333 shares of the specialty chemicals company’s stock worth $260,000 after purchasing an additional 20 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Cabot Corporation by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,118 shares of the specialty chemicals company’s stock worth $487,000 after purchasing an additional 33 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Cabot Corporation by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 4,984 shares of the specialty chemicals company’s stock worth $266,000 after purchasing an additional 45 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Cabot Corporation by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,772 shares of the specialty chemicals company’s stock worth $492,000 after purchasing an additional 54 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Cabot Corporation by 9.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares during the last quarter. 84.28% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on CBT shares. Northcoast Research raised Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Wednesday, May 24th. BidaskClub raised Cabot Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research raised Cabot Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, July 11th. Jefferies Group LLC set a $68.00 price objective on Cabot Corporation and gave the stock a “buy” rating in a research note on Thursday, June 8th. Finally, Aegis reissued a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.50.

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Cabot Corporation (NYSE:CBT) traded up 0.94% during trading on Monday, hitting $53.80. The stock had a trading volume of 7,048 shares. The company has a market capitalization of $3.35 billion, a P/E ratio of 15.07 and a beta of 1.09. The stock’s 50-day moving average price is $52.55 and its 200-day moving average price is $54.85. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34.

Cabot Corporation (NYSE:CBT) last released its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The business had revenue of $705.00 million for the quarter, compared to analysts’ expectations of $664.16 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. Cabot Corporation’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts expect that Cabot Corporation will post $3.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were issued a $0.315 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $1.26 dividend on an annualized basis and a yield of 2.36%. Cabot Corporation’s payout ratio is currently 35.29%.

Cabot Corporation 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.

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

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