Great West Life Assurance Co. Can raised its position in shares of Cabot Corp. (NYSE:CBT) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,655 shares of the company’s stock after buying an additional 942 shares during the period. Great West Life Assurance Co. Can owned about 0.06% of Cabot Corp. worth $2,025,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Malaga Cove Capital LLC acquired a new stake in Cabot Corp. during the third quarter worth approximately $1,225,000. Wright Investors Service Inc. acquired a new stake in Cabot Corp. during the third quarter worth approximately $333,000. Acadian Asset Management LLC boosted its stake in Cabot Corp. by 11,096.6% in the third quarter. Acadian Asset Management LLC now owns 13,100 shares of the company’s stock worth $687,000 after buying an additional 12,983 shares during the period. Bank of Montreal Can boosted its stake in Cabot Corp. by 3,309.7% in the third quarter. Bank of Montreal Can now owns 110,542 shares of the company’s stock worth $5,793,000 after buying an additional 107,300 shares during the period. Finally, First Quadrant L P CA boosted its stake in Cabot Corp. by 34.0% in the third quarter. First Quadrant L P CA now owns 283,407 shares of the company’s stock worth $14,853,000 after buying an additional 71,846 shares during the period. Institutional investors and hedge funds own 85.93% of the company’s stock.
Shares of Cabot Corp. (NYSE:CBT) traded up 0.58% during mid-day trading on Friday, hitting $51.76. The stock had a trading volume of 245,098 shares. The company has a market cap of $3.22 billion, a PE ratio of 21.97 and a beta of 1.25. The stock has a 50 day moving average price of $51.08 and a 200-day moving average price of $48.97. Cabot Corp. has a 52-week low of $36.12 and a 52-week high of $53.88.
Cabot Corp. (NYSE:CBT) last posted its quarterly earnings data on Monday, October 31st. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Cabot Corp. had a return on equity of 14.77% and a net margin of 6.18%. The company earned $619 million during the quarter, compared to analysts’ expectations of $654.40 million. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities analysts expect that Cabot Corp. will post $3.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.20 dividend on an annualized basis and a yield of 2.32%. Cabot Corp.’s payout ratio is 50.85%.
A number of analysts have recently commented on the company. Jefferies Group restated a “buy” rating and issued a $60.00 price objective on shares of Cabot Corp. in a research report on Monday, November 7th. Zacks Investment Research cut Cabot Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. TheStreet cut Cabot Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Deutsche Bank AG lifted their price target on Cabot Corp. from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. Finally, SunTrust Banks Inc. lowered Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a research note on Tuesday, August 2nd. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.67.
In other Cabot Corp. news, VP James Patrick Kelly sold 2,500 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $52.95, for a total transaction of $132,375.00. Following the completion of the sale, the vice president now directly owns 22,085 shares of the company’s stock, valued at approximately $1,169,400.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas S. Cross sold 21,584 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $50.56, for a total value of $1,091,287.04. Following the sale, the insider now directly owns 54,274 shares of the company’s stock, valued at $2,744,093.44. The disclosure for this sale can be found here. Company 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.