Earnest Partners LLC lifted its holdings in shares of Cabot Corporation (NYSE:CBT) by 41.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,491,521 shares of the specialty chemicals company’s stock after acquiring an additional 439,350 shares during the period. Earnest Partners LLC owned approximately 2.40% of Cabot Corporation worth $79,692,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Cabot Corporation by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,118 shares of the specialty chemicals company’s stock worth $487,000 after acquiring an additional 33 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Cabot Corporation by 0.9% during the second quarter. Teacher Retirement System of Texas now owns 4,984 shares of the specialty chemicals company’s stock worth $266,000 after acquiring an additional 45 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Cabot Corporation by 0.5% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 10,772 shares of the specialty chemicals company’s stock worth $492,000 after acquiring an additional 54 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Cabot Corporation by 9.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after acquiring an additional 209 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Cabot Corporation by 4.0% during the second quarter. Capstone Asset Management Co. now owns 5,442 shares of the specialty chemicals company’s stock worth $291,000 after acquiring an additional 210 shares in the last quarter. 84.28% of the stock is owned by institutional investors.

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In other Cabot Corporation news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.39, for a total transaction of $207,206.59. Following the completion of the sale, the insider now directly owns 27,736 shares in the company, valued at approximately $1,480,825.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by company insiders.

Several equities research analysts have recently commented on the stock. Loop Capital assumed coverage on shares of Cabot Corporation in a research report on Thursday, September 28th. They set a “hold” rating and a $59.00 target price for the company. Zacks Investment Research downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, J P Morgan Chase & Co raised shares of Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Tuesday, August 15th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $60.29.

Cabot Corporation (NYSE:CBT) traded down 0.23% on Friday, reaching $57.36. 252,758 shares of the company traded hands. The stock’s 50 day moving average price is $53.96 and its 200 day moving average price is $54.55. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The company has a market capitalization of $3.57 billion, a PE ratio of 16.07 and a beta of 1.09.

Cabot Corporation (NYSE:CBT) last released its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $705.00 million for the quarter, compared to the consensus estimate of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, equities research analysts predict that Cabot Corporation will post $3.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a dividend of $0.315 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $1.26 dividend on an annualized basis and a yield of 2.20%. Cabot Corporation’s dividend payout ratio is currently 35.29%.

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.

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

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