Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 14,501 Shares of Cabot Co. (NYSE:CBT)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Cabot Co. (NYSE:CBT) by 75.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,799 shares of the specialty chemicals company’s stock after purchasing an additional 14,501 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.06% of Cabot worth $2,261,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Cabot by 56.8% in the second quarter. Envestnet Asset Management Inc. now owns 149,553 shares of the specialty chemicals company’s stock valued at $10,004,000 after purchasing an additional 54,197 shares during the period. Barclays PLC raised its position in shares of Cabot by 7.1% in the second quarter. Barclays PLC now owns 73,703 shares of the specialty chemicals company’s stock valued at $4,932,000 after purchasing an additional 4,874 shares during the period. First Horizon Advisors Inc. increased its position in Cabot by 79.3% during the second quarter. First Horizon Advisors Inc. now owns 1,244 shares of the specialty chemicals company’s stock worth $83,000 after acquiring an additional 550 shares during the period. Oppenheimer Asset Management Inc. increased its position in Cabot by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 42,370 shares of the specialty chemicals company’s stock worth $2,834,000 after acquiring an additional 401 shares during the period. Finally, Bank of Montreal Can bought a new position in Cabot during the second quarter worth $678,000. Institutional investors own 91.05% of the company’s stock.

Cabot Stock Down 0.0 %

CBT opened at $78.33 on Monday. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $83.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.27. The firm’s fifty day moving average price is $69.44 and its two-hundred day moving average price is $69.73. The company has a market capitalization of $4.38 billion, a P/E ratio of 10.11, a P/E/G ratio of 2.40 and a beta of 1.23.

Cabot (NYSE:CBT) last issued its earnings results on Monday, November 6th. The specialty chemicals company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. Cabot had a net margin of 11.32% and a return on equity of 24.65%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $991.48 million. During the same quarter in the previous year, the company earned $1.55 EPS. The firm’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, analysts anticipate that Cabot Co. will post 6.58 EPS for the current year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. Cabot’s dividend payout ratio is presently 20.65%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CBT shares. UBS Group dropped their target price on shares of Cabot from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. StockNews.com raised shares of Cabot from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 10th. Credit Suisse Group dropped their target price on shares of Cabot from $85.00 to $82.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cabot from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cabot currently has an average rating of “Buy” and an average target price of $83.60.

Cabot Profile

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.