Ajo LP Buys 608,799 Shares of Cabot Corporation (CBT)

Ajo LP lifted its stake in Cabot Corporation (NYSE:CBT) by 196.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 918,731 shares of the specialty chemicals company’s stock after acquiring an additional 608,799 shares during the quarter. Ajo LP owned approximately 1.48% of Cabot Corporation worth $49,088,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. World Asset Management Inc increased its position in Cabot Corporation by 0.5% during the first quarter. World Asset Management Inc now owns 4,333 shares of the specialty chemicals company’s stock worth $260,000 after buying an additional 20 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Cabot Corporation by 0.4% during 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 buying an additional 33 shares during the last quarter. Teacher Retirement System of Texas increased its position in Cabot Corporation by 0.9% during the second quarter. Teacher Retirement System of Texas now owns 4,984 shares of the specialty chemicals company’s stock worth $266,000 after buying an additional 45 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Cabot Corporation by 0.5% during 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 buying an additional 54 shares during the last quarter. Finally, State Treasurer State of Michigan increased its position in Cabot Corporation by 0.8% during the first quarter. State Treasurer State of Michigan now owns 25,280 shares of the specialty chemicals company’s stock worth $1,515,000 after buying an additional 200 shares during the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cabot Corporation (NYSE:CBT) opened at 52.93 on Wednesday. The company has a market cap of $3.29 billion, a PE ratio of 14.83 and a beta of 1.09. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The stock’s 50 day moving average price is $52.74 and its 200-day moving average price is $54.95.

Cabot Corporation (NYSE:CBT) last posted its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The firm had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. On average, analysts expect that Cabot Corporation will post $3.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a $0.315 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $1.26 annualized dividend and a yield of 2.38%. Cabot Corporation’s dividend payout ratio (DPR) is 35.29%.

A number of equities analysts have weighed in on the company. BidaskClub raised Cabot Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. ValuEngine downgraded 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 Cabot Corporation and gave the stock a “buy” rating in a research report on Thursday, June 8th. J P Morgan Chase & Co raised Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a research report on Tuesday, August 15th. Finally, Aegis reissued a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $60.50.

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

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