Cabot Corporation (NYSE:CBT) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in shares of Cabot Corporation (NYSE:CBT) by 18.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,840 shares of the specialty chemicals company’s stock after purchasing an additional 1,210 shares during the period. Mackenzie Financial Corp’s holdings in Cabot were worth $652,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Millennium Management LLC boosted its position in Cabot by 67.7% in the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company’s stock valued at $31,901,000 after buying an additional 141,050 shares during the period. GAMMA Investing LLC increased its stake in Cabot by 10,385.0% in the first quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company’s stock valued at $11,751,000 after purchasing an additional 139,990 shares during the period. Northern Trust Corp increased its stake in shares of Cabot by 12.4% during the fourth quarter. Northern Trust Corp now owns 794,477 shares of the specialty chemicals company’s stock worth $72,544,000 after acquiring an additional 87,881 shares during the period. Twinbeech Capital LP acquired a new position in Cabot during the fourth quarter worth about $7,352,000. Finally, Marshall Wace LLP increased its stake in shares of Cabot by 3,242.5% during the 4th quarter. Marshall Wace LLP now owns 74,338 shares of the specialty chemicals company’s stock worth $6,788,000 after purchasing an additional 72,114 shares in the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Cabot Stock Down 3.2%

Cabot stock opened at $77.52 on Thursday. Cabot Corporation has a twelve month low of $70.40 and a twelve month high of $117.46. The company has a 50 day moving average of $75.86 and a 200-day moving average of $79.72. The stock has a market capitalization of $4.16 billion, a PE ratio of 10.13 and a beta of 0.87. The company has a quick ratio of 1.30, a current ratio of 2.13 and a debt-to-equity ratio of 0.66.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. The company had revenue of $923.00 million for the quarter, compared to analyst estimates of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. On average, equities research analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Cabot’s dividend payout ratio (DPR) is presently 23.29%.

Analysts Set New Price Targets

CBT has been the topic of several analyst reports. Wall Street Zen downgraded shares of Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group set a $82.00 target price on shares of Cabot and gave the stock a “neutral” rating in a research report on Tuesday.

About Cabot

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.