Assetmark Inc. Sells 752 Shares of Cabot Corporation (NYSE:CBT)

Assetmark Inc. decreased its holdings in Cabot Corporation (NYSE:CBT) by 10.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,181 shares of the specialty chemicals company’s stock after selling 752 shares during the period. Assetmark Inc.’s holdings in Cabot were worth $514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CBT. CWM LLC raised its stake in Cabot by 55.0% in the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company’s stock valued at $50,000 after buying an additional 213 shares during the period. Curat Global LLC bought a new stake in Cabot in the first quarter valued at approximately $83,000. Farther Finance Advisors LLC raised its stake in Cabot by 1,346.4% in the first quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company’s stock valued at $136,000 after buying an additional 1,508 shares during the period. GAMMA Investing LLC raised its stake in Cabot by 26.1% in the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock valued at $141,000 after buying an additional 352 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Cabot by 26.8% in the first quarter. Nisa Investment Advisors LLC now owns 2,317 shares of the specialty chemicals company’s stock valued at $193,000 after buying an additional 489 shares during the period. Institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CBT. Wall Street Zen downgraded Cabot from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. UBS Group decreased their target price on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th.

Cabot Price Performance

Cabot stock opened at $71.99 on Friday. Cabot Corporation has a 12 month low of $70.40 and a 12 month high of $117.46. The stock’s 50 day moving average is $75.72 and its 200-day moving average is $80.00. The company has a current ratio of 1.96, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of 9.31 and a beta of 0.87.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.04. The business had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. Equities research analysts expect that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Cabot’s dividend payout ratio is currently 23.29%.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions.