Deprince Race & Zollo Inc. Acquires Shares of 517,363 Cabot Corporation (CBT)

Deprince Race & Zollo Inc. acquired a new stake in Cabot Corporation (NYSE:CBT) during the second quarter, Holdings Channel reports. The institutional investor acquired 517,363 shares of the specialty chemicals company’s stock, valued at approximately $27,643,000.

Several other large investors also recently made changes to their positions in CBT. BlackRock Inc. increased 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 during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Cabot Corporation during the second quarter valued at about $7,160,000. Bank of America Corp DE increased its stake in shares of Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares during the last quarter. Opus Capital Group LLC increased its stake in shares of Cabot Corporation by 2,343.8% in the first quarter. Opus Capital Group LLC now owns 124,730 shares of the specialty chemicals company’s stock valued at $7,473,000 after buying an additional 119,626 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Cabot Corporation by 9.5% in the first quarter. American Century Companies Inc. now owns 1,307,127 shares of the specialty chemicals company’s stock valued at $78,310,000 after buying an additional 112,960 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Shares of Cabot Corporation (CBT) opened at 51.21 on Friday. The firm’s 50-day moving average is $53.40 and its 200-day moving average is $55.58. The firm has a market cap of $3.19 billion, a P/E ratio of 14.34 and a beta of 1.05. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34.

Cabot Corporation (NYSE:CBT) last issued 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. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The firm had revenue of $705 million during the quarter, compared to analyst estimates of $664.16 million. During the same period in the prior year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, analysts anticipate that Cabot Corporation will post $3.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, August 23rd. Cabot Corporation’s dividend payout ratio is 35.29%.

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Several equities research analysts have recently issued reports on CBT shares. Zacks Investment Research upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Friday, April 28th. Northcoast Research upgraded shares of Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, May 24th. BidaskClub upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 price objective on shares of Cabot Corporation in a research note on Tuesday, May 2nd. Finally, Aegis restated a “hold” rating on shares of Cabot Corporation in a research note on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $60.50.

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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