Eaton Vance Management Holds Stake in Cabot Corporation (CBT)
Eaton Vance Management maintained its stake in shares of Cabot Corporation (NYSE:CBT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,265 shares of the specialty chemicals company’s stock at the close of the 2nd quarter. Eaton Vance Management’s holdings in Cabot Corporation were worth $762,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE grew its holdings in shares of Cabot Corporation by 22.9% during the 1st quarter. Bank of America Corp DE now owns 703,563 shares of the specialty chemicals company’s stock valued at $42,151,000 after purchasing an additional 131,109 shares during the last quarter. First Citizens Bank & Trust Co. bought a new stake in shares of Cabot Corporation during the 2nd quarter valued at approximately $432,000. KCG Holdings Inc. grew its holdings in shares of Cabot Corporation by 6.6% during the 1st quarter. KCG Holdings Inc. now owns 7,508 shares of the specialty chemicals company’s stock valued at $450,000 after purchasing an additional 467 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Cabot Corporation by 30.0% during the 1st quarter. Legal & General Group Plc now owns 68,671 shares of the specialty chemicals company’s stock valued at $4,112,000 after purchasing an additional 15,829 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Cabot Corporation by 42.2% during the 2nd quarter. Victory Capital Management Inc. now owns 799,592 shares of the specialty chemicals company’s stock valued at $42,722,000 after purchasing an additional 237,421 shares during the last quarter. 84.28% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on CBT shares. Jefferies Group LLC set a $68.00 price target on shares of Cabot Corporation and gave the company a “buy” rating in a report on Thursday, June 8th. Zacks Investment Research raised shares of Cabot Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, July 11th. BidaskClub raised shares of Cabot Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Aegis reaffirmed a “hold” rating on shares of Cabot Corporation in a report on Wednesday, May 31st. Finally, ValuEngine lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Cabot Corporation has an average rating of “Buy” and a consensus target price of $60.50.
In other Cabot Corporation news, insider Hobart Kalkstein sold 3,881 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.39, for a total transaction of $207,206.59. Following the transaction, the insider now directly owns 27,736 shares in the company, valued at $1,480,825.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.
Shares of Cabot Corporation (CBT) opened at 55.80 on Monday. The firm has a market capitalization of $3.47 billion, a P/E ratio of 15.63 and a beta of 1.09. The company’s 50-day moving average is $52.51 and its 200 day moving average is $54.73. Cabot Corporation has a 52-week low of $47.99 and a 52-week high of $61.34.
Cabot Corporation (NYSE:CBT) last posted its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The company had revenue of $705.00 million during the quarter, compared to the consensus estimate of $664.16 million. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $0.93 earnings per share. Analysts expect that Cabot Corporation will post $3.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Wednesday, August 23rd. Cabot Corporation’s payout ratio is currently 35.29%.
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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