Peregrine Capital Management LLC boosted its stake in Cabot Corporation (NYSE:CBT) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,758 shares of the specialty chemicals company’s stock after buying an additional 3,229 shares during the period. Peregrine Capital Management LLC owned approximately 0.26% of Cabot Corporation worth $8,643,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of CBT. BlackRock Inc. raised its stake in Cabot Corporation by 5,702.4% in the first quarter. BlackRock Inc. now owns 7,038,411 shares of the specialty chemicals company’s stock valued at $421,670,000 after buying an additional 6,917,109 shares during the last quarter. Norges Bank purchased a new stake in Cabot Corporation during the fourth quarter valued at about $37,848,000. Bank of America Corp DE increased its position in Cabot Corporation by 22.9% in the first quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after buying an additional 131,109 shares during the period. Opus Capital Group LLC increased its position in Cabot Corporation by 2,343.8% in the first quarter. Opus Capital Group LLC now owns 124,730 shares of the specialty chemicals company’s stock valued at $7,473,000 after buying an additional 119,626 shares during the period. Finally, American Century Companies Inc. increased its position in Cabot Corporation by 9.5% in the first quarter. American Century Companies Inc. now owns 1,307,127 shares of the specialty chemicals company’s stock valued at $78,310,000 after buying an additional 112,960 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.
Cabot Corporation (CBT) traded up 0.88% during mid-day trading on Friday, reaching $51.66. 360,120 shares of the company’s stock were exchanged. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34. The stock has a market capitalization of $3.21 billion, a PE ratio of 14.47 and a beta of 1.05. The firm’s 50-day moving average is $53.37 and its 200 day moving average is $55.55.
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 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 forecast that Cabot Corporation will post $3.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $1.26 annualized dividend and a yield of 2.44%. Cabot Corporation’s dividend payout ratio is currently 35.29%.
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Several research analysts recently weighed in on the stock. BidaskClub downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Cabot Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. 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. ValuEngine downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Aegis restated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target 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.
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