Cigna Investments Inc. New decreased its position in shares of Cabot Corporation (NYSE:CBT) by 23.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,899 shares of the specialty chemicals company’s stock after selling 6,271 shares during the period. Cigna Investments Inc. New’s holdings in Cabot Corporation were worth $1,117,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position 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 worth $421,670,000 after buying an additional 6,917,109 shares in the last quarter. AQR Capital Management LLC increased its position in Cabot Corporation by 1.3% in the first quarter. AQR Capital Management LLC now owns 2,503,497 shares of the specialty chemicals company’s stock worth $149,984,000 after buying an additional 31,318 shares in the last quarter. Wellington Management Group LLP increased its position in Cabot Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 1,484,256 shares of the specialty chemicals company’s stock worth $88,922,000 after buying an additional 12,585 shares in the last quarter. Principal Financial Group Inc. increased its position in Cabot Corporation by 2.0% in the first quarter. Principal Financial Group Inc. now owns 1,406,299 shares of the specialty chemicals company’s stock worth $84,251,000 after buying an additional 27,957 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Cabot Corporation by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,340,844 shares of the specialty chemicals company’s stock worth $80,329,000 after buying an additional 69,977 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Cabot Corporation (CBT) opened at 51.44 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of 14.41 and a beta of 1.05. Cabot Corporation has a 1-year low of $47.99 and a 1-year high of $61.34. The stock’s 50 day moving average is $53.49 and its 200-day moving average is $55.71.

Cabot Corporation (NYSE:CBT) last posted its quarterly 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 return on equity of 16.03% and a net margin of 8.61%. The firm had revenue of $705 million for the quarter, compared to analyst estimates of $664.16 million. During the same quarter last year, the firm earned $0.93 EPS. The company’s revenue was up 13.5% on a year-over-year basis. On average, analysts expect that Cabot Corporation will post $3.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, August 23rd. Cabot Corporation’s dividend payout ratio (DPR) is presently 35.29%.

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A number of equities analysts have recently issued reports on CBT shares. Zacks Investment Research downgraded shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 price objective on shares of Cabot Corporation in a research note on Tuesday, May 2nd. Northcoast Research upgraded shares of Cabot Corporation from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, May 24th. SunTrust Banks, Inc. started coverage on shares of Cabot Corporation in a research note on Tuesday, April 18th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, BidaskClub upgraded shares of Cabot Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $59.67.

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.

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Institutional Ownership by Quarter for Cabot Corporation (NYSE:CBT)

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