Schwab Charles Investment Management Inc. Buys 20,362 Shares of Cabot Corp (CBT)
Schwab Charles Investment Management Inc. increased its stake in Cabot Corp (NYSE:CBT) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,077 shares of the specialty chemicals company’s stock after acquiring an additional 20,362 shares during the period. Schwab Charles Investment Management Inc. owned about 0.64% of Cabot worth $22,046,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBT. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cabot by 9.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock valued at $132,000 after acquiring an additional 209 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Cabot in the 2nd quarter valued at about $155,000. Parametrica Management Ltd bought a new stake in shares of Cabot in the 3rd quarter valued at about $217,000. Virginia Retirement Systems ET AL bought a new stake in shares of Cabot in the 3rd quarter valued at about $218,000. Finally, Quantbot Technologies LP lifted its stake in shares of Cabot by 244.4% in the 2nd quarter. Quantbot Technologies LP now owns 4,643 shares of the specialty chemicals company’s stock valued at $248,000 after acquiring an additional 3,295 shares during the last quarter. 84.84% of the stock is owned by institutional investors.
Cabot Corp (NYSE:CBT) opened at $57.60 on Friday. The company has a market capitalization of $3,568.32, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41. Cabot Corp has a 52-week low of $50.21 and a 52-week high of $64.66.
Cabot (NYSE:CBT) last released 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). The business had revenue of $723.00 million for the quarter, compared to the consensus estimate of $683.30 million. Cabot had a net margin of 8.87% and a return on equity of 15.11%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. equities research analysts forecast that Cabot Corp will post 3.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were issued a dividend of $0.315 per share. The ex-dividend date was Wednesday, November 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.19%. Cabot’s dividend payout ratio (DPR) is 33.07%.
A number of research analysts have commented on the company. Zacks Investment Research lowered Cabot from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Jefferies Group reaffirmed a “buy” rating and set a $74.00 price target on shares of Cabot in a research report on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of Cabot in a research report on Wednesday, November 1st. Finally, Loop Capital assumed coverage on Cabot in a research report on Thursday, September 28th. They set a “hold” rating and a $59.00 price target for the company. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.14.
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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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