Envestnet Asset Management Inc. Sells 19,299 Shares of Cabot Corp (CBT)

Envestnet Asset Management Inc. trimmed its holdings in shares of Cabot Corp (NYSE:CBT) by 67.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,231 shares of the specialty chemicals company’s stock after selling 19,299 shares during the period. Envestnet Asset Management Inc.’s holdings in Cabot were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CBT. Great West Life Assurance Co. Can lifted its position in shares of Cabot by 2.3% during the second quarter. Great West Life Assurance Co. Can now owns 37,874 shares of the specialty chemicals company’s stock worth $2,023,000 after purchasing an additional 855 shares in the last quarter. Sei Investments Co. lifted its position in shares of Cabot by 53.1% during the second quarter. Sei Investments Co. now owns 28,265 shares of the specialty chemicals company’s stock worth $1,510,000 after purchasing an additional 9,803 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Cabot by 1.5% during the second quarter. Arizona State Retirement System now owns 26,300 shares of the specialty chemicals company’s stock worth $1,405,000 after purchasing an additional 400 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Cabot by 0.9% during the second quarter. Teacher Retirement System of Texas now owns 4,984 shares of the specialty chemicals company’s stock worth $266,000 after purchasing an additional 45 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Cabot by 9.4% during the second quarter. Legal & General Group Plc now owns 75,128 shares of the specialty chemicals company’s stock worth $4,013,000 after purchasing an additional 6,457 shares in the last quarter. 84.83% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cabot Corp (NYSE CBT) opened at $62.31 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. The stock has a market cap of $3,903.45, a price-to-earnings ratio of 18.37, a P/E/G ratio of 1.66 and a beta of 1.11. Cabot Corp has a 12 month low of $50.21 and a 12 month high of $64.66.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). The company had revenue of $723.00 million during the quarter, compared to the consensus estimate of $683.30 million. Cabot had a return on equity of 15.11% and a net margin of 8.87%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. analysts expect that Cabot Corp will post 3.79 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were paid a $0.315 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.02%. Cabot’s dividend payout ratio (DPR) is presently 33.07%.

A number of research analysts have recently commented on CBT shares. Loop Capital started coverage on shares of Cabot in a research report on Thursday, September 28th. They set a “hold” rating and a $59.00 target price on the stock. KeyCorp reissued a “hold” rating on shares of Cabot in a research report on Wednesday, November 1st. Jefferies Group reissued a “buy” rating and set a $74.00 target price on shares of Cabot in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Cabot from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, SunTrust Banks upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.14.

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Cabot 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 (NYSE:CBT)

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