Catalyst Capital Advisors LLC purchased a new position in Cabot Co. (NYSE:CBT – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 555 shares of the specialty chemicals company’s stock, valued at approximately $38,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its holdings in shares of Cabot by 1.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the specialty chemicals company’s stock worth $1,047,000 after purchasing an additional 200 shares in the last quarter. HighTower Advisors LLC lifted its stake in Cabot by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 8,619 shares of the specialty chemicals company’s stock valued at $488,000 after acquiring an additional 216 shares during the period. Profund Advisors LLC boosted its holdings in shares of Cabot by 5.3% during the 4th quarter. Profund Advisors LLC now owns 4,386 shares of the specialty chemicals company’s stock valued at $246,000 after acquiring an additional 219 shares during the last quarter. Jackson Square Capital LLC raised its holdings in shares of Cabot by 4.6% during the first quarter. Jackson Square Capital LLC now owns 5,435 shares of the specialty chemicals company’s stock valued at $372,000 after purchasing an additional 237 shares during the last quarter. Finally, Ironwood Investment Management LLC lifted its position in Cabot by 1.4% during the fourth quarter. Ironwood Investment Management LLC now owns 19,017 shares of the specialty chemicals company’s stock valued at $1,069,000 after purchasing an additional 263 shares during the period. Institutional investors own 89.50% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on CBT. Deutsche Bank Aktiengesellschaft raised their price target on Cabot from $65.00 to $74.00 in a research note on Tuesday, May 17th. StockNews.com upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Finally, TheStreet upgraded shares of Cabot from a “c+” rating to a “b” rating in a research note on Monday, May 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.40.
Cabot Stock Performance
Cabot (NYSE:CBT – Get Rating) last issued its earnings results on Monday, August 8th. The specialty chemicals company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.20. Cabot had a net margin of 3.50% and a return on equity of 32.30%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned $1.35 earnings per share. Cabot’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities research analysts forecast that Cabot Co. will post 6.15 EPS for the current fiscal year.
Cabot Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 26th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, August 25th. Cabot’s payout ratio is 60.16%.
In other news, SVP Karen A. Kalita sold 4,575 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $78.13, for a total value of $357,444.75. Following the sale, the senior vice president now directly owns 25,874 shares in the company, valued at approximately $2,021,535.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Karen A. Kalita sold 4,575 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $78.13, for a total transaction of $357,444.75. Following the transaction, the senior vice president now owns 25,874 shares of the company’s stock, valued at approximately $2,021,535.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Hobart Kalkstein sold 17,235 shares of Cabot stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $77.86, for a total transaction of $1,341,917.10. Following the transaction, the senior vice president now directly owns 52,785 shares of the company’s stock, valued at $4,109,840.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,107 shares of company stock worth $2,687,999. 2.20% of the stock is currently owned by insiders.
Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites.
- Get a free copy of the StockNews.com research report on Cabot (CBT)
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