Deprince Race & Zollo Inc. Has $24.85 Million Stake in Cabot Corporation (CBT)
Deprince Race & Zollo Inc. reduced its holdings in shares of Cabot Corporation (NYSE:CBT) by 13.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 445,362 shares of the specialty chemicals company’s stock after selling 72,001 shares during the quarter. Deprince Race & Zollo Inc. owned approximately 0.72% of Cabot Corporation worth $24,851,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cabot Corporation by 9.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after acquiring an additional 209 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Cabot Corporation during the 2nd quarter worth about $155,000. Parametrica Management Ltd acquired a new position in shares of Cabot Corporation during the 3rd quarter worth about $217,000. Quantbot Technologies LP boosted its position in shares of Cabot Corporation by 244.4% during the 2nd quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock worth $248,000 after acquiring an additional 3,295 shares in the last quarter. Finally, Shelton Capital Management acquired a new position in shares of Cabot Corporation during the 2nd quarter worth about $249,000. 84.28% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on CBT. Zacks Investment Research cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $74.00 price objective on shares of Cabot Corporation in a research report on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, November 1st. Loop Capital initiated coverage on Cabot Corporation in a research report on Thursday, September 28th. They issued a “hold” rating and a $59.00 target price for the company. Finally, ValuEngine cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $61.14.
Shares of Cabot Corporation (NYSE:CBT) traded down $0.72 during midday trading on Thursday, hitting $59.52. The company had a trading volume of 563,700 shares, compared to its average volume of 341,561. The firm has a market cap of $3,727.91, a PE ratio of 17.56, a PEG ratio of 1.59 and a beta of 1.11. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41. Cabot Corporation has a 1 year low of $50.21 and a 1 year high of $64.66.
Cabot Corporation (NYSE:CBT) last announced its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to analyst estimates of $683.30 million. Cabot Corporation had a net margin of 8.87% and a return on equity of 15.11%. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. research analysts forecast that Cabot Corporation will post 3.78 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be given a $0.315 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.12%. Cabot Corporation’s dividend payout ratio (DPR) is presently 33.07%.
In other Cabot Corporation news, insider Hobart Kalkstein sold 3,881 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total transaction of $207,206.59. Following the completion of the sale, the insider now directly owns 27,736 shares of the company’s stock, valued at approximately $1,480,825.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by company insiders.
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.
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