6,000 Shares in Cabot Corporation (CBT) Acquired by Trexquant Investment LP

Trexquant Investment LP bought a new position in shares of Cabot Corporation (NYSE:CBT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,000 shares of the specialty chemicals company’s stock, valued at approximately $321,000.

A number of other hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in shares of Cabot Corporation by 344.9% in the first quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after buying an additional 1,890 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Cabot Corporation by 66.1% in the second quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after buying an additional 1,233 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Cabot Corporation by 123.1% in the first quarter. Meeder Asset Management Inc. now owns 2,892 shares of the specialty chemicals company’s stock worth $173,000 after buying an additional 1,596 shares in the last quarter. Timber Hill LLC acquired a new stake in shares of Cabot Corporation during the first quarter worth approximately $201,000. Finally, Oxford Asset Management acquired a new stake in shares of Cabot Corporation during the first quarter worth approximately $205,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Cabot Corporation (NYSE CBT) opened at 51.21 on Friday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 14.34 and a beta of 1.05. Cabot Corporation has a 12 month low of $47.99 and a 12 month high of $61.34. The company’s 50 day moving average is $53.40 and its 200-day moving average is $55.58.

Cabot Corporation (NYSE:CBT) last posted its 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 firm had revenue of $705 million for the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. Cabot Corporation’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. On average, analysts expect that Cabot Corporation will post $3.45 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be paid a $0.315 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $1.26 dividend on an annualized basis and a yield of 2.46%. Cabot Corporation’s dividend payout ratio is currently 35.29%.

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A number of analysts have commented on the stock. Zacks Investment Research cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 5th. BidaskClub upgraded shares of Cabot Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. ValuEngine lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Jefferies Group LLC set a $68.00 price target on shares of Cabot Corporation and gave the stock a “buy” rating in a research report on Thursday, June 8th. Finally, J P Morgan Chase & Co upgraded shares of Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.50.

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.