American Century Companies Inc. cut its stake in shares of Cabot Corporation (NYSE:CBT) by 2.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,278,334 shares of the specialty chemicals company’s stock after selling 28,793 shares during the period. American Century Companies Inc. owned approximately 2.05% of Cabot Corporation worth $68,301,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Cabot Corporation by 5,702.4% in the first quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock valued at $421,670,000 after buying an additional 6,917,109 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Cabot Corporation by 1.3% in the first quarter. AQR Capital Management LLC now owns 2,503,497 shares of the specialty chemicals company’s stock valued at $149,984,000 after buying an additional 31,318 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Cabot Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 1,484,256 shares of the specialty chemicals company’s stock valued at $88,922,000 after buying an additional 12,585 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Cabot Corporation by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock valued at $84,251,000 after buying an additional 27,957 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Cabot Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,340,844 shares of the specialty chemicals company’s stock valued at $80,329,000 after buying an additional 69,977 shares in the last quarter. Institutional investors own 84.29% of the company’s stock.

Shares of Cabot Corporation (NYSE CBT) opened at 51.88 on Tuesday. The stock has a market cap of $3.23 billion, a P/E ratio of 14.53 and a beta of 1.05. The company’s 50-day moving average is $53.17 and its 200-day moving average is $55.37. Cabot Corporation has a 12-month low of $47.99 and a 12-month high of $61.34.

Cabot Corporation (NYSE:CBT) last issued its quarterly earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.04. The business had revenue of $705 million during the quarter, compared to analyst estimates of $664.16 million. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. Cabot Corporation’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. On average, equities research analysts anticipate that Cabot Corporation will post $3.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, August 23rd. Cabot Corporation’s dividend payout ratio is presently 35.29%.

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Several analysts have recently commented on CBT shares. Zacks Investment Research downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 target price on shares of Cabot Corporation in a report on Tuesday, May 2nd. Northcoast Research upgraded shares of Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a report on Wednesday, May 24th. BidaskClub downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Aegis reiterated a “hold” rating on shares of Cabot Corporation in a report on Wednesday, May 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $60.50.

Cabot Corporation Company Profile

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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Institutional Ownership by Quarter for Cabot Corporation (NYSE:CBT)

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