Comerica Bank Increases Stake in Cabot Corporation (CBT)

Comerica Bank boosted its position in Cabot Corporation (NYSE:CBT) by 14.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,313 shares of the specialty chemicals company’s stock after buying an additional 11,826 shares during the period. Comerica Bank owned 0.15% of Cabot Corporation worth $5,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CBT. Tower Research Capital LLC TRC increased its position in 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 during the period. Integrated Investment Consultants LLC increased its position in 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 during the period. Meeder Asset Management Inc. increased its position in 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 during the period. Timber Hill LLC purchased a new position in Cabot Corporation during the first quarter worth approximately $201,000. Finally, Oxford Asset Management purchased a new position in Cabot Corporation during the first quarter worth approximately $205,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Cabot Corporation (NYSE CBT) opened at 51.85 on Friday. The firm has a 50-day moving average of $53.20 and a 200-day moving average of $55.41. The company has a market cap of $3.23 billion, a PE ratio of 14.52 and a beta of 1.05. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34.

Cabot Corporation (NYSE:CBT) last released its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by $0.04. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The firm had revenue of $705 million during the quarter, compared to the consensus estimate of $664.16 million. During the same period in the prior year, the business earned $0.93 earnings per share. Cabot Corporation’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Cabot Corporation will post $3.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.315 dividend. 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%.

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A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. BidaskClub raised shares of Cabot Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 16th. ValuEngine cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Jefferies Group LLC set a $68.00 target price on shares of Cabot Corporation and gave the stock a “buy” rating in a report on Thursday, June 8th. Finally, J P Morgan Chase & Co raised shares of Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 target price on the stock in a report on Tuesday, August 15th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average 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.