Bank of America Corp DE raised its holdings in shares of Cabot Co. (NYSE:CBT – Get Rating) by 2.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,436,579 shares of the specialty chemicals company's stock after buying an additional 35,168 shares during the quarter. Bank of America Corp DE's holdings in Cabot were worth $98,277,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its position in Cabot by 11.0% during the first quarter. BlackRock Inc. now owns 6,931,530 shares of the specialty chemicals company's stock valued at $474,186,000 after purchasing an additional 686,769 shares during the last quarter. Vanguard Group Inc. lifted its position in Cabot by 6.5% during the first quarter. Vanguard Group Inc. now owns 6,120,453 shares of the specialty chemicals company's stock valued at $418,701,000 after purchasing an additional 374,834 shares during the last quarter. Wellington Management Group LLP lifted its position in Cabot by 11.1% during the first quarter. Wellington Management Group LLP now owns 3,541,491 shares of the specialty chemicals company's stock valued at $242,273,000 after purchasing an additional 353,154 shares during the last quarter. State Street Corp lifted its position in Cabot by 5.2% during the first quarter. State Street Corp now owns 1,886,076 shares of the specialty chemicals company's stock valued at $129,026,000 after purchasing an additional 93,588 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Cabot by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,767,147 shares of the specialty chemicals company's stock valued at $120,898,000 after purchasing an additional 22,089 shares during the last quarter. Institutional investors own 96.48% of the company's stock.
Get Cabot alerts:Analyst Ratings Changes
Separately, StockNews.com upgraded shares of Cabot from a "hold" rating to a "buy" rating in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Cabot has a consensus rating of "Moderate Buy" and a consensus target price of $79.25.
Cabot Price Performance
Cabot stock opened at $65.64 on Friday. The firm has a 50-day moving average price of $72.26 and a 200-day moving average price of $69.67. The firm has a market capitalization of $3.70 billion, a PE ratio of 26.68 and a beta of 1.39. The company has a current ratio of 1.70, a quick ratio of 1.10 and a debt-to-equity ratio of 1.05. Cabot Co. has a 12-month low of $49.59 and a 12-month high of $78.62.Cabot (NYSE:CBT – Get Rating) last released its earnings results on Monday, August 8th. The specialty chemicals company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.20. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. Cabot had a net margin of 3.50% and a return on equity of 32.30%. The business's revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business earned $1.35 EPS. As a group, equities research analysts forecast that Cabot Co. will post 6.2 EPS for the current year.
Cabot Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, August 25th. Cabot's dividend payout ratio is presently 60.16%.
Cabot Company Profile
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Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons 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.
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