Bailard Inc. acquired a new stake in shares of Cabot Corp (NYSE:CBT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 14,500 shares of the specialty chemicals company’s stock, valued at approximately $893,000.
A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its position in Cabot by 2.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 18,696 shares of the specialty chemicals company’s stock valued at $999,000 after acquiring an additional 363 shares in the last quarter. Gratus Capital LLC boosted its position in Cabot by 9.9% during the 3rd quarter. Gratus Capital LLC now owns 8,853 shares of the specialty chemicals company’s stock valued at $494,000 after acquiring an additional 800 shares in the last quarter. Pacer Advisors Inc. boosted its position in Cabot by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 9,232 shares of the specialty chemicals company’s stock valued at $515,000 after acquiring an additional 950 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Cabot by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock valued at $226,000 after acquiring an additional 1,194 shares in the last quarter. Finally, Aperio Group LLC boosted its position in Cabot by 7.3% during the 4th quarter. Aperio Group LLC now owns 20,657 shares of the specialty chemicals company’s stock valued at $1,272,000 after acquiring an additional 1,400 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. Zacks Investment Research raised Cabot from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Friday, February 9th. Jefferies Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Cabot in a research report on Thursday, February 8th. ValuEngine raised Cabot from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Northcoast Research set a $75.00 price objective on Cabot and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, SunTrust Banks raised Cabot from a “hold” rating to a “buy” rating in a research report on Tuesday, December 19th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.33.
Cabot (NYSE:CBT) last released its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.15. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $653.54 million. During the same period last year, the business earned $0.84 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. sell-side analysts predict that Cabot Corp will post 4.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 1.97%. Cabot’s payout ratio is 31.74%.
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Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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