Texas Permanent School Fund boosted its position in shares of Cabot Corporation (NYSE:CBT) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,613 shares of the specialty chemicals company’s stock after buying an additional 586 shares during the period. Texas Permanent School Fund’s holdings in Cabot Corporation were worth $2,437,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of Cabot Corporation by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 1,890 shares in the last quarter. Integrated Investment Consultants LLC increased its stake in shares of Cabot Corporation by 66.1% in the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after buying an additional 1,233 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Cabot Corporation by 123.1% in the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock worth $173,000 after buying an additional 1,596 shares in the last quarter. Timber Hill LLC purchased a new stake in shares of Cabot Corporation during the first quarter worth $201,000. Finally, Oxford Asset Management purchased a new stake in shares of Cabot Corporation during the first quarter worth $205,000. Institutional investors and hedge funds own 85.65% of the company’s stock.
Shares of Cabot Corporation (CBT) opened at 51.93 on Thursday. The firm’s 50-day moving average is $53.54 and its 200 day moving average is $55.74. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The firm has a market capitalization of $3.23 billion, a P/E ratio of 14.56 and a beta of 1.05.
Cabot Corporation (NYSE:CBT) last issued its quarterly 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 million during the quarter, compared to analyst estimates of $664.16 million. During the same period last year, the firm posted $0.93 earnings per share. Cabot Corporation’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities research analysts predict that Cabot Corporation will post $3.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.43%. The ex-dividend date is Wednesday, August 23rd. Cabot Corporation’s dividend payout ratio (DPR) is presently 35.29%.
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A number of brokerages recently weighed in on CBT. Zacks Investment Research downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. BidaskClub upgraded shares of Cabot Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. ValuEngine downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC set a $68.00 price target on shares of Cabot Corporation and gave the company a “buy” rating in a research report on Thursday, June 8th. Finally, Aegis reiterated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $59.67.
About Cabot Corporation
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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