Cabot Corporation (CBT) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its stake in Cabot Corporation (NYSE:CBT) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,760 shares of the specialty chemicals company’s stock after selling 940 shares during the period. Systematic Financial Management LP’s holdings in Cabot Corporation were worth $1,644,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Cabot Corporation by 5,702.4% in the 1st quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock worth $421,670,000 after purchasing an additional 6,917,109 shares during the last quarter. LSV Asset Management raised its position in Cabot Corporation by 1.5% in the 2nd quarter. LSV Asset Management now owns 3,059,449 shares of the specialty chemicals company’s stock worth $163,466,000 after purchasing an additional 43,976 shares during the last quarter. AQR Capital Management LLC raised its position in Cabot Corporation by 1.3% in the 1st quarter. AQR Capital Management LLC now owns 2,503,497 shares of the specialty chemicals company’s stock worth $149,984,000 after purchasing an additional 31,318 shares during the last quarter. Wellington Management Group LLP raised its position in Cabot Corporation by 0.9% in the 1st quarter. Wellington Management Group LLP now owns 1,484,256 shares of the specialty chemicals company’s stock worth $88,922,000 after purchasing an additional 12,585 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Cabot Corporation by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock worth $84,251,000 after purchasing an additional 27,957 shares during the last quarter. Hedge funds and other institutional investors own 84.29% of the company’s stock.

Several research analysts recently weighed in on CBT shares. Northcoast Research upgraded shares of Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Wednesday, May 24th. Aegis restated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Jefferies Group LLC set a $68.00 price objective on shares of Cabot Corporation and gave the stock a “buy” rating in a research report on Thursday, June 8th. BidaskClub upgraded shares of Cabot Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Finally, Zacks Investment Research upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, July 11th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $60.50.

Cabot Corporation (NYSE CBT) opened at 53.30 on Friday. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The stock has a 50 day moving average of $52.55 and a 200 day moving average of $54.85. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 14.93 and a beta of 1.09.

Cabot Corporation (NYSE:CBT) last released its quarterly earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The business had revenue of $705.00 million for the quarter, compared to the consensus estimate of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. Cabot Corporation’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. Equities research analysts predict that Cabot Corporation will post $3.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, August 23rd. Cabot Corporation’s payout ratio is currently 35.29%.

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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.

Institutional Ownership by Quarter for Cabot Corporation (NYSE:CBT)

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