Quantbot Technologies LP reduced its position in Cabot Corp. (NYSE:CBT) by 68.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,560 shares of the company’s stock after selling 7,808 shares during the period. Quantbot Technologies LP’s holdings in Cabot Corp. were worth $186,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Cabot Corp. by 49.6% in the second quarter. AQR Capital Management LLC now owns 1,664,979 shares of the company’s stock worth $76,023,000 after buying an additional 551,834 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Cabot Corp. by 199.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 757,316 shares of the company’s stock worth $34,795,000 after buying an additional 504,663 shares during the period. Vanguard Group Inc. boosted its position in Cabot Corp. by 9.8% in the second quarter. Vanguard Group Inc. now owns 5,106,514 shares of the company’s stock worth $233,163,000 after buying an additional 456,744 shares during the period. Renaissance Technologies LLC boosted its position in Cabot Corp. by 734.3% in the first quarter. Renaissance Technologies LLC now owns 408,800 shares of the company’s stock worth $19,757,000 after buying an additional 359,800 shares during the period. Finally, Mesirow Financial Investment Management Equity Management bought a new position in Cabot Corp. during the second quarter worth $15,935,000. 85.93% of the stock is owned by institutional investors.
Cabot Corp. (NYSE:CBT) traded down 0.98% during midday trading on Thursday, reaching $51.46. The company’s stock had a trading volume of 291,249 shares. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 21.84 and a beta of 1.25. The stock’s 50-day moving average price is $51.13 and its 200-day moving average price is $48.92. Cabot Corp. has a 12 month low of $36.12 and a 12 month high of $53.88.
Cabot Corp. (NYSE:CBT) last released its quarterly earnings data on Monday, October 31st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. The business earned $619 million during the quarter, compared to analyst estimates of $654.40 million. Cabot Corp. had a return on equity of 14.77% and a net margin of 6.18%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.78 EPS. Analysts predict that Cabot Corp. will post $3.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Tuesday, November 22nd. Cabot Corp.’s dividend payout ratio is presently 50.85%.
CBT has been the subject of several analyst reports. TheStreet lowered Cabot Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. Jefferies Group reiterated a “buy” rating and issued a $60.00 target price on shares of Cabot Corp. in a research note on Tuesday, September 13th. Zacks Investment Research lowered Cabot Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. SunTrust Banks Inc. lowered Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank AG upped their target price on Cabot Corp. from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $53.67.
In other news, VP James Patrick Kelly sold 2,500 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $52.95, for a total value of $132,375.00. Following the completion of the sale, the vice president now owns 22,085 shares in the company, valued at $1,169,400.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicholas S. Cross sold 21,584 shares of the stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $50.56, for a total value of $1,091,287.04. Following the completion of the sale, the insider now owns 54,274 shares of the company’s stock, valued at approximately $2,744,093.44. The disclosure for this sale can be found here. Insiders own 2.48% of the company’s stock.
Cabot Corp. Company Profile
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.