California Public Employees Retirement System decreased its holdings in Cabot Corp (NYSE:CBT) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,351 shares of the specialty chemicals company’s stock after selling 3,876 shares during the period. California Public Employees Retirement System owned about 0.18% of Cabot worth $4,524,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Lindbrook Capital LLC acquired a new position in shares of Cabot during the fourth quarter worth about $28,000. Polaris Capital Management LLC acquired a new position in shares of Cabot during the fourth quarter worth about $2,289,000. Comerica Bank increased its stake in shares of Cabot by 3.2% during the fourth quarter. Comerica Bank now owns 100,870 shares of the specialty chemicals company’s stock worth $4,728,000 after acquiring an additional 3,111 shares during the period. Sensible Financial Planning & Management LLC. increased its stake in shares of Cabot by 135.0% during the fourth quarter. Sensible Financial Planning & Management LLC. now owns 39,687 shares of the specialty chemicals company’s stock worth $1,704,000 after acquiring an additional 22,800 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Cabot during the fourth quarter worth about $40,483,000. Institutional investors and hedge funds own 85.44% of the company’s stock.
Shares of Cabot stock opened at $43.36 on Friday. Cabot Corp has a 52-week low of $39.57 and a 52-week high of $67.80. The company has a current ratio of 1.31, a quick ratio of 0.75 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.58 billion, a PE ratio of 10.76, a PEG ratio of 0.97 and a beta of 1.39.
Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, February 4th. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Cabot had a return on equity of 19.05% and a net margin of 2.33%. The firm had revenue of $821.00 million for the quarter, compared to analyst estimates of $778.50 million. During the same quarter last year, the firm earned $0.93 earnings per share. The company’s revenue was up 14.0% compared to the same quarter last year. Equities analysts anticipate that Cabot Corp will post 4.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 22nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $1.32 annualized dividend and a yield of 3.04%. Cabot’s payout ratio is currently 32.75%.
A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Cabot from a “c” rating to a “b-” rating in a research note on Tuesday, February 5th. ValuEngine lowered shares of Cabot from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 5th. Finally, Zacks Investment Research lowered shares of Cabot from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. Cabot presently has a consensus rating of “Hold” and an average price target of $74.80.
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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