Vanguard Group Inc. Sells 114,776 Shares of Cabot Corporation (NYSE:CBT)

Vanguard Group Inc. lessened its stake in Cabot Corporation (NYSE:CBT) by 1.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,102,800 shares of the specialty chemicals company’s stock after selling 114,776 shares during the quarter. Vanguard Group Inc. owned approximately 11.26% of Cabot worth $507,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Beverly Hills Private Wealth LLC raised its holdings in shares of Cabot by 3.6% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company’s stock worth $326,000 after purchasing an additional 135 shares during the period. Isthmus Partners LLC raised its holdings in Cabot by 4.6% during the 1st quarter. Isthmus Partners LLC now owns 4,258 shares of the specialty chemicals company’s stock valued at $354,000 after acquiring an additional 186 shares during the period. CWM LLC raised its holdings in Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 213 shares during the period. GAMMA Investing LLC raised its holdings in Cabot by 26.1% during the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock valued at $141,000 after acquiring an additional 352 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Cabot by 4.4% during the 4th quarter. Captrust Financial Advisors now owns 9,489 shares of the specialty chemicals company’s stock valued at $866,000 after acquiring an additional 399 shares during the period. Institutional investors own 93.18% of the company’s stock.

Analyst Upgrades and Downgrades

CBT has been the topic of a number of analyst reports. Wall Street Zen cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, May 7th. UBS Group set a $82.00 target price on shares of Cabot and gave the company a “neutral” rating in a report on Tuesday, August 5th.

Cabot Stock Down 3.1%

CBT opened at $79.49 on Friday. The company has a fifty day moving average price of $76.30 and a 200-day moving average price of $79.24. The firm has a market capitalization of $4.23 billion, a P/E ratio of 10.39 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. The firm had revenue of $923.00 million during 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%. Equities research analysts expect that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Cabot’s dividend payout ratio (DPR) is currently 23.53%.

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.