Principal Financial Group Inc. Has $24.75 Million Position in Cabot Corporation (CBT)

Principal Financial Group Inc. lowered its holdings in Cabot Corporation (NYSE:CBT) by 43.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 443,562 shares of the specialty chemicals company’s stock after selling 334,911 shares during the quarter. Principal Financial Group Inc. owned 0.71% of Cabot Corporation worth $24,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CBT. Teachers Advisors LLC increased its stake in Cabot Corporation by 3.3% in the first quarter. Teachers Advisors LLC now owns 152,965 shares of the specialty chemicals company’s stock valued at $9,164,000 after acquiring an additional 4,901 shares during the period. Capstone Asset Management Co. boosted its position in Cabot Corporation by 4.0% in the second quarter. Capstone Asset Management Co. now owns 5,442 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 210 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Cabot Corporation by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 22,854 shares of the specialty chemicals company’s stock valued at $1,221,000 after buying an additional 994 shares in the last quarter. LS Investment Advisors LLC boosted its position in Cabot Corporation by 15.3% in the second quarter. LS Investment Advisors LLC now owns 4,858 shares of the specialty chemicals company’s stock valued at $260,000 after buying an additional 645 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Cabot Corporation by 3.8% in the second quarter. Louisiana State Employees Retirement System now owns 16,300 shares of the specialty chemicals company’s stock valued at $871,000 after buying an additional 600 shares in the last quarter. 84.77% of the stock is currently owned by institutional investors and hedge funds.

CBT has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and issued a $74.00 price target on shares of Cabot Corporation in a research report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, November 1st. Loop Capital initiated coverage on shares of Cabot Corporation in a research report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price target on the stock. Finally, BidaskClub lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.14.

Cabot Corporation (CBT) opened at $60.59 on Tuesday. Cabot Corporation has a 12-month low of $50.21 and a 12-month high of $64.66. The stock has a market cap of $3,746.48, a P/E ratio of 17.65, a PEG ratio of 1.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.17 and a current ratio of 1.70.

Cabot Corporation (NYSE:CBT) last announced its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.02). Cabot Corporation had a return on equity of 15.11% and a net margin of 8.87%. The company had revenue of $723.00 million for the quarter, compared to analyst estimates of $683.30 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. Cabot Corporation’s revenue for the quarter was up 16.8% on a year-over-year basis. research analysts anticipate that Cabot Corporation will post 3.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.08%. Cabot Corporation’s payout ratio is 33.07%.

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In other news, insider Hobart Kalkstein sold 3,881 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.39, for a total transaction of $207,206.59. Following the transaction, the insider now directly owns 27,736 shares in the company, valued at $1,480,825.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by corporate insiders.

Cabot Corporation 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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