Rhumbline Advisers lowered its stake in Cabot Corporation (NYSE:CBT) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,302 shares of the specialty chemicals company’s stock after selling 3,121 shares during the period. Rhumbline Advisers owned approximately 0.19% of Cabot Corporation worth $6,428,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. World Asset Management Inc increased its stake in shares of Cabot Corporation by 0.5% in the first quarter. World Asset Management Inc now owns 4,333 shares of the specialty chemicals company’s stock valued at $260,000 after buying an additional 20 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Cabot Corporation by 0.9% in the second quarter. Teacher Retirement System of Texas now owns 4,984 shares of the specialty chemicals company’s stock valued at $266,000 after buying an additional 45 shares during the period. State Treasurer State of Michigan increased its stake in shares of Cabot Corporation by 0.8% in the first quarter. State Treasurer State of Michigan now owns 25,280 shares of the specialty chemicals company’s stock valued at $1,515,000 after buying an additional 200 shares during the period. Capstone Asset Management Co. increased its stake in shares of Cabot Corporation by 4.0% in the second quarter. Capstone Asset Management Co. now owns 5,442 shares of the specialty chemicals company’s stock valued at $291,000 after buying an additional 210 shares during the period. Finally, Advantus Capital Management Inc increased its stake in shares of Cabot Corporation by 2.8% in the first quarter. Advantus Capital Management Inc now owns 7,963 shares of the specialty chemicals company’s stock valued at $477,000 after buying an additional 216 shares during the period. Institutional investors and hedge funds own 84.29% of the company’s stock.

Cabot Corporation (NYSE CBT) opened at 51.88 on Tuesday. Cabot Corporation has a 52 week low of $47.99 and a 52 week high of $61.34. The company has a market cap of $3.23 billion, a P/E ratio of 14.53 and a beta of 1.05. The firm has a 50-day moving average price of $53.17 and a 200-day moving average price of $55.37.

Cabot Corporation (NYSE:CBT) last announced 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 company had revenue of $705 million for 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 for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. Equities research analysts anticipate that Cabot Corporation will post $3.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be given a dividend of $0.315 per share. 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 currently 35.29%.

COPYRIGHT VIOLATION NOTICE: This report was published by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another site, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this report can be viewed at https://www.watchlistnews.com/rhumbline-advisers-sells-3121-shares-of-cabot-corporation-cbt/1529001.html.

Several brokerages recently issued reports on CBT. Zacks Investment Research upgraded Cabot Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Northcoast Research upgraded Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Wednesday, May 24th. BidaskClub upgraded Cabot Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 price target on shares of Cabot Corporation in a report on Tuesday, May 2nd. Finally, J P Morgan Chase & Co upgraded Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a report on Tuesday, August 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price 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.

Institutional Ownership by Quarter 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.