Retirement Systems of Alabama Purchases 415 Shares of Cabot Co. (NYSE:CBT)

Retirement Systems of Alabama grew its stake in shares of Cabot Co. (NYSE:CBTFree Report) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,606 shares of the specialty chemicals company’s stock after buying an additional 415 shares during the period. Retirement Systems of Alabama owned 0.13% of Cabot worth $6,418,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Cabot by 143.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 196 shares during the period. Arlington Trust Co LLC bought a new stake in shares of Cabot during the fourth quarter valued at about $34,000. Hexagon Capital Partners LLC increased its position in shares of Cabot by 81.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 207 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Cabot by 372.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 398 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Cabot during the fourth quarter valued at about $44,000. 93.18% of the stock is currently owned by institutional investors.

Cabot Stock Down 1.6 %

Shares of CBT opened at $88.37 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47. Cabot Co. has a 1 year low of $64.15 and a 1 year high of $103.49. The firm has a market cap of $4.88 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.89 and a beta of 1.20. The stock has a 50 day simple moving average of $97.62 and a two-hundred day simple moving average of $88.92.

Cabot (NYSE:CBTGet Free Report) last announced its earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.12. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.33 earnings per share. On average, analysts forecast that Cabot Co. will post 6.78 earnings per share for the current fiscal year.

Cabot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.95%. This is a boost from Cabot’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, May 31st. Cabot’s dividend payout ratio (DPR) is presently 21.77%.

Insiders Place Their Bets

In other Cabot news, SVP Karen A. Kalita sold 13,764 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $101.73, for a total value of $1,400,211.72. Following the transaction, the senior vice president now directly owns 34,312 shares of the company’s stock, valued at $3,490,559.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.07% of the company’s stock.

Analyst Ratings Changes

CBT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $88.00 to $95.00 in a report on Thursday, April 18th. UBS Group boosted their price objective on Cabot from $100.00 to $103.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Mizuho boosted their price objective on Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Finally, StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.80.

Read Our Latest Research Report on Cabot

Cabot 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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