Cabot Corporation (CBT) Shares Bought by Connable Office Inc.

Connable Office Inc. raised its stake in shares of Cabot Corporation (NYSE:CBT) by 51.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,442 shares of the specialty chemicals company’s stock after buying an additional 2,521 shares during the period. Connable Office Inc.’s holdings in Cabot Corporation were worth $398,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Cabot Corporation by 5,702.4% in the first quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock valued at $421,670,000 after buying an additional 6,917,109 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Cabot Corporation by 1.3% in the first quarter. AQR Capital Management LLC now owns 2,503,497 shares of the specialty chemicals company’s stock valued at $149,984,000 after buying an additional 31,318 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Cabot Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 1,484,256 shares of the specialty chemicals company’s stock valued at $88,922,000 after buying an additional 12,585 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Cabot Corporation by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock valued at $84,251,000 after buying an additional 27,957 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cabot Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,340,844 shares of the specialty chemicals company’s stock valued at $80,329,000 after buying an additional 69,977 shares in the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Cabot Corporation (NYSE CBT) opened at 51.44 on Friday. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34. The company has a market cap of $3.20 billion, a P/E ratio of 14.41 and a beta of 1.05. The stock’s 50 day moving average price is $53.49 and its 200 day moving average price is $55.71.

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 analysts’ consensus estimates of $0.85 by $0.04. The firm had revenue of $705 million for 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 firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. On average, equities analysts anticipate that Cabot Corporation will post $3.46 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, August 23rd. Cabot Corporation’s dividend payout ratio (DPR) is presently 35.29%.

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CBT has been the subject of several research analyst reports. Zacks Investment Research lowered Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 price target on shares of Cabot Corporation in a research note on Tuesday, May 2nd. Northcoast Research upgraded Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Wednesday, May 24th. SunTrust Banks, Inc. initiated coverage on Cabot Corporation in a research note on Tuesday, April 18th. They set a “buy” rating and a $56.00 price target for the company. Finally, BidaskClub upgraded Cabot Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.67.

Cabot Corporation Company 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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