Teacher Retirement System of Texas Has $661,000 Stock Position in Cabot Corporation (NYSE:CBT)

Teacher Retirement System of Texas lowered its position in shares of Cabot Corporation (NYSE:CBT) by 66.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,956 shares of the specialty chemicals company’s stock after selling 15,536 shares during the quarter. Teacher Retirement System of Texas’ holdings in Cabot were worth $661,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Neuberger Berman Group LLC boosted its stake in shares of Cabot by 1.2% during the 4th quarter. Neuberger Berman Group LLC now owns 18,238 shares of the specialty chemicals company’s stock valued at $1,665,000 after buying an additional 212 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 219 shares in the last quarter. GAMMA Investing LLC boosted its position in Cabot by 26.1% during the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock valued at $141,000 after purchasing an additional 352 shares during the last quarter. Captrust Financial Advisors grew its stake in Cabot by 4.4% in the fourth quarter. Captrust Financial Advisors now owns 9,489 shares of the specialty chemicals company’s stock valued at $866,000 after purchasing an additional 399 shares in the last quarter. Finally, Xponance Inc. increased its position in Cabot by 6.3% in the 4th quarter. Xponance Inc. now owns 7,831 shares of the specialty chemicals company’s stock worth $715,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CBT. Wall Street Zen lowered Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. UBS Group cut their price objective on shares of Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th.

Cabot Trading Down 2.1%

Cabot stock opened at $76.20 on Wednesday. Cabot Corporation has a one year low of $71.64 and a one year high of $117.46. The company’s fifty day moving average price is $75.69 and its two-hundred day moving average price is $81.20. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.30. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 0.70 and a beta of 0.85.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.04. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The business had revenue of $936.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, analysts forecast that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. Cabot’s payout ratio is presently 23.29%.

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.