Fifth Third Bancorp Boosts Holdings in Cabot Co. (NYSE:CBT)

Fifth Third Bancorp boosted its position in shares of Cabot Co. (NYSE:CBTFree Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,179 shares of the specialty chemicals company’s stock after buying an additional 1,229 shares during the quarter. Fifth Third Bancorp’s holdings in Cabot were worth $2,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of CBT. Raymond James & Associates boosted its stake in Cabot by 8.2% during the first quarter. Raymond James & Associates now owns 33,134 shares of the specialty chemicals company’s stock worth $2,267,000 after buying an additional 2,521 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Cabot by 5.0% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,740 shares of the specialty chemicals company’s stock worth $598,000 after purchasing an additional 417 shares during the last quarter. AlphaCrest Capital Management LLC lifted its position in shares of Cabot by 13.3% during the first quarter. AlphaCrest Capital Management LLC now owns 4,176 shares of the specialty chemicals company’s stock worth $286,000 after purchasing an additional 491 shares during the last quarter. Natixis Advisors L.P. bought a new stake in shares of Cabot during the first quarter worth $712,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Cabot during the first quarter worth $282,000. 93.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CBT has been the subject of several recent research reports. UBS Group downgraded Cabot from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $87.00 in a report on Monday, January 8th. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Finally, Mizuho assumed coverage on shares of Cabot in a report on Wednesday, March 27th. They issued a “buy” rating and a $104.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.67.

View Our Latest Analysis on CBT

Insider Transactions at Cabot

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the sale, the executive vice president now owns 97,201 shares in the company, valued at $7,767,331.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.07% of the company’s stock.

Cabot Price Performance

Shares of CBT stock opened at $93.59 on Thursday. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $94.01. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.98 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04. The stock’s 50-day simple moving average is $83.82 and its 200-day simple moving average is $77.61.

Cabot (NYSE:CBTGet Free Report) last issued its quarterly earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The business had revenue of $958.00 million for the quarter, compared to analyst estimates of $927.28 million. As a group, equities analysts forecast that Cabot Co. will post 6.58 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. Cabot’s payout ratio is 20.78%.

Cabot Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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