Cabot Corp (CBT) Shares Bought by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky raised its holdings in Cabot Corp (NYSE:CBT) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,800 shares of the specialty chemicals company’s stock after purchasing an additional 3,200 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cabot were worth $788,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in shares of Cabot by 113.6% in the 4th quarter. Bank of New York Mellon Corp now owns 1,978,158 shares of the specialty chemicals company’s stock valued at $121,834,000 after purchasing an additional 1,052,224 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Cabot by 0.8% during the 3rd quarter. Earnest Partners LLC now owns 1,504,122 shares of the specialty chemicals company’s stock valued at $83,930,000 after acquiring an additional 12,601 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cabot by 2.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,480,653 shares of the specialty chemicals company’s stock valued at $82,622,000 after acquiring an additional 36,804 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Cabot by 0.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,105,212 shares of the specialty chemicals company’s stock valued at $68,070,000 after acquiring an additional 2,870 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Cabot by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 987,097 shares of the specialty chemicals company’s stock valued at $55,613,000 after acquiring an additional 82,042 shares in the last quarter. 87.18% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. ValuEngine lowered Cabot from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird initiated coverage on Cabot in a research report on Tuesday, February 27th. They set a “neutral” rating and a $72.00 target price for the company. Northcoast Research set a $75.00 price objective on Cabot and gave the stock a “buy” rating in a research report on Monday, February 12th. Zacks Investment Research raised Cabot from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Friday, February 9th. Finally, Jefferies Group restated a “buy” rating and issued a $78.00 target price on shares of Cabot in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $72.29.
Cabot (NYSE:CBT) last issued its earnings results on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.15. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $653.54 million. During the same quarter in the previous year, the firm posted $0.84 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. equities research analysts forecast that Cabot Corp will post 4.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 23rd were issued a $0.315 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.26 annualized dividend and a dividend yield of 2.21%. Cabot’s payout ratio is currently 128.57%.
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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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