Hillcrest Asset Management LLC Has $8.50 Million Position in Cabot Corporation (CBT)
Hillcrest Asset Management LLC decreased its position in shares of Cabot Corporation (NYSE:CBT) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,365 shares of the specialty chemicals company’s stock after selling 3,470 shares during the period. Hillcrest Asset Management LLC owned 0.25% of Cabot Corporation worth $8,502,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Cabot Corporation by 9.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in Cabot Corporation in the second quarter valued at approximately $155,000. Parametrica Management Ltd acquired a new position in Cabot Corporation in the third quarter valued at approximately $217,000. Quantbot Technologies LP lifted its holdings in Cabot Corporation by 244.4% in the second quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock valued at $248,000 after buying an additional 3,295 shares during the period. Finally, Shelton Capital Management bought a new stake in shares of Cabot Corporation during the second quarter worth $249,000. 84.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Cabot Corporation (CBT) traded up $0.03 on Monday, reaching $62.24. 295,600 shares of the company were exchanged, compared to its average volume of 340,078. The stock has a market capitalization of $3,851.68, a P/E ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.70 and a quick ratio of 1.17. Cabot Corporation has a 1-year low of $49.70 and a 1-year high of $64.66.
Cabot Corporation (NYSE:CBT) last issued its quarterly earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Cabot Corporation had a net margin of 8.87% and a return on equity of 15.11%. The business had revenue of $723.00 million for the quarter, compared to the consensus estimate of $683.30 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. research analysts anticipate that Cabot Corporation will post 3.79 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.02%. Cabot Corporation’s dividend payout ratio is 33.07%.
In other Cabot Corporation news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total transaction of $207,206.59. Following the completion of the transaction, the insider now owns 27,736 shares of the company’s stock, valued at $1,480,825.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by company insiders.
CBT has been the subject of a number of research reports. Zacks Investment Research cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $74.00 target price on shares of Cabot Corporation in a report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, November 1st. Loop Capital started 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 on the stock. Finally, BidaskClub lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Cabot Corporation has an average rating of “Hold” and an average price target of $61.14.
About Cabot Corporation
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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