Trade Report: Today, Cabot Corp. (CBT) Position Boosted by Mutual of America Capital Management LLC

Today, Cabot Corp. (CBT) Position Boosted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC raised its stake in shares of Cabot Corp. (NYSE:CBT) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,645 shares of the company’s stock after buying an additional 693 shares during the period. Mutual of America Capital Management LLC owned about 0.08% of Cabot Corp. worth $2,497,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised 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 valued at $233,163,000 after buying an additional 456,744 shares during the last quarter. BlackRock Fund Advisors raised its position in Cabot Corp. by 5.2% in the second quarter. BlackRock Fund Advisors now owns 2,213,469 shares of the company’s stock valued at $101,067,000 after buying an additional 109,065 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Cabot Corp. by 3.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,872,171 shares of the company’s stock valued at $85,483,000 after buying an additional 68,165 shares during the last quarter. State Street Corp raised its position in Cabot Corp. by 2.0% in the second quarter. State Street Corp now owns 1,745,826 shares of the company’s stock valued at $79,717,000 after buying an additional 33,831 shares during the last quarter. Finally, AQR Capital Management LLC raised 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 valued at $76,023,000 after buying an additional 551,834 shares during the last quarter. 85.93% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Corp. (NYSE:CBT) opened at 51.76 on Friday. Cabot Corp. has a 12 month low of $36.12 and a 12 month high of $53.88. The firm has a 50-day moving average price of $51.08 and a 200 day moving average price of $48.97. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 21.97 and a beta of 1.25.

Cabot Corp. (NYSE:CBT) last posted its quarterly earnings results on Monday, October 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.06. Cabot Corp. had a return on equity of 14.77% and a net margin of 6.18%. The business had revenue of $619 million for the quarter, compared to analyst estimates of $654.40 million. During the same period last year, the company earned $0.78 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. On average, equities analysts forecast that Cabot Corp. will post $3.43 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Friday, November 25th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $1.20 annualized dividend and a dividend yield of 2.32%. Cabot Corp.’s dividend payout ratio is currently 50.85%.

Several research analysts have weighed in on CBT shares. TheStreet lowered Cabot Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Jefferies Group reaffirmed a “buy” rating and issued a $60.00 target price on shares of Cabot Corp. in a research report on Tuesday, September 13th. Zacks Investment Research lowered Cabot Corp. from a “buy” rating to a “hold” rating in a research report 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 on the stock. in a research report 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 stock a “hold” rating in a research report on Friday, August 12th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.67.

In other news, insider Gottberg Friedrich Von sold 19,553 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $51.05, for a total value of $998,180.65. Following the transaction, the insider now directly owns 26,207 shares in the company, valued at approximately $1,337,867.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Patrick Kelly sold 2,500 shares of the firm’s 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 transaction, the vice president now owns 22,085 shares in the company, valued at $1,169,400.75. The disclosure for this sale can be found here. 2.48% of the stock is owned by insiders.

About Cabot Corp.

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.

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