Bremer Trust National Association purchased a new position in shares of Cabot Corp (NYSE:CBT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,168 shares of the specialty chemicals company’s stock, valued at approximately $50,000.
A number of other institutional investors also recently made changes to their positions in the stock. Meeder Asset Management Inc. grew its holdings in Cabot by 28.2% during the fourth quarter. Meeder Asset Management Inc. now owns 1,049 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 231 shares in the last quarter. Texas Permanent School Fund grew its holdings in Cabot by 1.4% during the fourth quarter. Texas Permanent School Fund now owns 39,282 shares of the specialty chemicals company’s stock worth $1,687,000 after buying an additional 549 shares in the last quarter. Lindbrook Capital LLC bought a new stake in Cabot during the fourth quarter worth $28,000. IFP Advisors Inc grew its holdings in Cabot by 723.5% during the fourth quarter. IFP Advisors Inc now owns 1,087 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 955 shares in the last quarter. Finally, Federated Investors Inc. PA grew its holdings in Cabot by 4.0% during the third quarter. Federated Investors Inc. PA now owns 29,434 shares of the specialty chemicals company’s stock worth $1,847,000 after buying an additional 1,132 shares in the last quarter. Institutional investors and hedge funds own 85.84% of the company’s stock.
Get Cabot alerts:Several equities research analysts recently issued reports on the company. ValuEngine upgraded Cabot from a “strong sell” rating to a “sell” rating in a report on Friday, November 16th. TheStreet upgraded Cabot from a “c” rating to a “b-” rating in a report on Tuesday, February 5th. Zacks Investment Research downgraded Cabot from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Northcoast Research set a $75.00 price objective on Cabot and gave the company a “buy” rating in a research note on Wednesday, November 7th. Finally, Loop Capital set a $82.00 price objective on Cabot and gave the company a “buy” rating in a research note on Tuesday, November 6th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Cabot has an average rating of “Hold” and an average price target of $74.80.
Shares of NYSE:CBT opened at $47.54 on Tuesday. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.03 and a beta of 1.44. The company has a quick ratio of 0.75, a current ratio of 1.31 and a debt-to-equity ratio of 0.53. Cabot Corp has a 1 year low of $39.57 and a 1 year high of $67.80.
Cabot (NYSE:CBT) last announced its quarterly earnings data on Monday, February 4th. The specialty chemicals company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $778.50 million. Cabot had a net margin of 2.33% and a return on equity of 19.05%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. On average, equities analysts forecast that Cabot Corp will post 4.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 22nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, February 21st. This represents a $1.32 dividend on an annualized basis and a yield of 2.78%. Cabot’s dividend payout ratio (DPR) is presently 32.75%.
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About Cabot
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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