Quantbot Technologies LP Boosts Position in Cabot Corporation (CBT)
Quantbot Technologies LP increased its position in shares of Cabot Corporation (NYSE:CBT) by 244.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,643 shares of the specialty chemicals company’s stock after acquiring an additional 3,295 shares during the period. Quantbot Technologies LP’s holdings in Cabot Corporation were worth $248,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in Cabot Corporation by 22.9% during the 1st quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after acquiring an additional 131,109 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in Cabot Corporation during the second quarter worth about $432,000. KCG Holdings Inc. increased its stake in Cabot Corporation by 6.6% during the first quarter. KCG Holdings Inc. now owns 7,508 shares of the specialty chemicals company’s stock worth $450,000 after purchasing an additional 467 shares during the period. Legal & General Group Plc increased its stake in Cabot Corporation by 30.0% during the first quarter. Legal & General Group Plc now owns 68,671 shares of the specialty chemicals company’s stock worth $4,112,000 after purchasing an additional 15,829 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Cabot Corporation by 42.2% during the second quarter. Victory Capital Management Inc. now owns 799,592 shares of the specialty chemicals company’s stock worth $42,722,000 after purchasing an additional 237,421 shares during the period. Institutional investors own 84.28% of the company’s stock.
Several brokerages have recently issued reports on CBT. Zacks Investment Research cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Loop Capital assumed coverage on shares of Cabot Corporation in a report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price objective for the company. BidaskClub upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. 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 on the stock in a research note on Tuesday, August 15th. Finally, Jefferies Group LLC set a $68.00 target price on shares of Cabot Corporation and gave the stock a “buy” rating in a research note on Thursday, June 8th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $60.29.
ILLEGAL ACTIVITY WARNING: “Quantbot Technologies LP Boosts Position in Cabot Corporation (CBT)” was first published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/quantbot-technologies-lp-boosts-position-in-cabot-corporation-cbt/1607427.html.
In other news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.39, for a total value of $207,206.59. Following the transaction, the insider now owns 27,736 shares of the company’s stock, valued at approximately $1,480,825.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
Shares of Cabot Corporation (CBT) opened at 57.64 on Wednesday. The firm has a 50-day moving average price of $53.51 and a 200-day moving average price of $54.53. Cabot Corporation has a 52-week low of $47.99 and a 52-week high of $61.34. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 16.15 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 (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The business had revenue of $705.00 million for the quarter, compared to analysts’ expectations of $664.16 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. Cabot Corporation’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts predict that Cabot Corporation will post $3.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Wednesday, August 23rd. Cabot Corporation’s dividend payout ratio is presently 35.29%.
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.
Want to see what other hedge funds are holding CBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Corporation (NYSE:CBT).
Receive News & Ratings for Cabot Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.