State Board of Administration of Florida Retirement System reduced its stake in shares of Cabot Corp (NYSE:CBT) by 0.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 91,246 shares of the specialty chemicals company’s stock after selling 770 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Cabot were worth $3,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Cabot by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,308,212 shares of the specialty chemicals company’s stock valued at $56,174,000 after acquiring an additional 18,543 shares during the period. FMR LLC grew its position in shares of Cabot by 2.6% during the 4th quarter. FMR LLC now owns 1,204,771 shares of the specialty chemicals company’s stock valued at $51,733,000 after acquiring an additional 30,658 shares during the period. Victory Capital Management Inc. grew its position in shares of Cabot by 11.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,194,727 shares of the specialty chemicals company’s stock valued at $51,302,000 after acquiring an additional 120,584 shares during the period. Ceredex Value Advisors LLC acquired a new stake in shares of Cabot during the 4th quarter valued at about $40,483,000. Finally, Bank of America Corp DE grew its position in shares of Cabot by 2.3% during the 4th quarter. Bank of America Corp DE now owns 813,403 shares of the specialty chemicals company’s stock valued at $34,928,000 after acquiring an additional 18,016 shares during the period. 87.16% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on CBT shares. ValuEngine cut Cabot from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 5th. TheStreet lowered shares of Cabot from a “b-” rating to a “c+” rating in a research note on Friday, March 22nd. Loop Capital decreased their price target on shares of Cabot to $69.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Zacks Investment Research lowered shares of Cabot from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $73.33.

Shares of Cabot stock opened at $41.28 on Friday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.01 and a beta of 1.40. Cabot Corp has a twelve month low of $39.57 and a twelve month high of $67.80. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 1.34.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, May 6th. The specialty chemicals company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.02. The firm had revenue of $844.00 million for the quarter, compared to analyst estimates of $868.00 million. Cabot had a net margin of 8.13% and a return on equity of 19.06%. Cabot’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.04 EPS. Sell-side analysts forecast that Cabot Corp will post 4.13 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from Cabot’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 3.39%. Cabot’s dividend payout ratio (DPR) is currently 32.75%.

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Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and compounds of carbon black and rubber.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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