Crossmark Global Holdings Inc. Reduces Stock Position in Cabot Co. (NYSE:CBT)

Crossmark Global Holdings Inc. lessened its stake in shares of Cabot Co. (NYSE:CBTGet Rating) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,526 shares of the specialty chemicals company’s stock after selling 164 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cabot were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Cabot by 11.0% during the 1st quarter. BlackRock Inc. now owns 6,931,530 shares of the specialty chemicals company’s stock worth $474,186,000 after purchasing an additional 686,769 shares in the last quarter. Vanguard Group Inc. increased its position in Cabot by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 6,120,453 shares of the specialty chemicals company’s stock worth $418,701,000 after purchasing an additional 374,834 shares in the last quarter. Wellington Management Group LLP increased its position in Cabot by 11.1% during the 1st quarter. Wellington Management Group LLP now owns 3,541,491 shares of the specialty chemicals company’s stock worth $242,273,000 after purchasing an additional 353,154 shares in the last quarter. FMR LLC boosted its stake in Cabot by 9.8% in the 2nd quarter. FMR LLC now owns 2,783,173 shares of the specialty chemicals company’s stock worth $177,540,000 after buying an additional 248,148 shares during the last quarter. Finally, State Street Corp boosted its stake in Cabot by 5.2% in the 1st quarter. State Street Corp now owns 1,886,076 shares of the specialty chemicals company’s stock worth $129,026,000 after buying an additional 93,588 shares during the last quarter. Hedge funds and other institutional investors own 94.21% of the company’s stock.

Cabot Stock Up 0.5 %

Shares of NYSE:CBT opened at $73.51 on Wednesday. Cabot Co. has a 1 year low of $53.32 and a 1 year high of $78.62. The stock has a 50-day simple moving average of $70.57 and a 200-day simple moving average of $70.40. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.05 and a current ratio of 1.65. The stock has a market capitalization of $4.14 billion, a P/E ratio of 20.42 and a beta of 1.38.

Cabot (NYSE:CBTGet Rating) last released its quarterly earnings data on Monday, November 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.07. Cabot had a net margin of 4.84% and a return on equity of 35.30%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.04 billion. Equities analysts forecast that Cabot Co. will post 6.5 earnings per share for the current year.

Cabot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Friday, February 24th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, February 23rd. Cabot’s dividend payout ratio is presently 41.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CBT. StockNews.com raised Cabot from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 20th. Deutsche Bank Aktiengesellschaft raised Cabot from a “hold” rating to a “buy” rating and raised their price target for the stock from $80.00 to $90.00 in a research note on Wednesday, November 16th.

Cabot Profile

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Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 solutions.

Further Reading

Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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