Panagora Asset Management Inc. Raises Stake in Cabot Corp (NYSE:CBT)

Panagora Asset Management Inc. boosted its position in Cabot Corp (NYSE:CBT) by 35.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,712 shares of the specialty chemicals company’s stock after buying an additional 1,500 shares during the period. Panagora Asset Management Inc.’s holdings in Cabot were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bbva USA Bancshares Inc. grew its holdings in shares of Cabot by 5.4% during the 2nd quarter. Bbva USA Bancshares Inc. now owns 6,375 shares of the specialty chemicals company’s stock worth $304,000 after purchasing an additional 326 shares during the period. 1ST Source Bank boosted its position in Cabot by 2.0% during the second quarter. 1ST Source Bank now owns 17,130 shares of the specialty chemicals company’s stock worth $817,000 after purchasing an additional 330 shares in the last quarter. Connable Office Inc. boosted its position in Cabot by 5.0% during the first quarter. Connable Office Inc. now owns 7,938 shares of the specialty chemicals company’s stock worth $330,000 after purchasing an additional 376 shares in the last quarter. Keybank National Association OH boosted its position in Cabot by 2.5% during the first quarter. Keybank National Association OH now owns 20,808 shares of the specialty chemicals company’s stock worth $866,000 after purchasing an additional 508 shares in the last quarter. Finally, Twin Tree Management LP acquired a new position in shares of Cabot in the first quarter worth $30,000. Hedge funds and other institutional investors own 85.87% of the company’s stock.

CBT stock traded up $0.76 during trading on Friday, hitting $47.68. The company had a trading volume of 3,706 shares, compared to its average volume of 317,510. The company has a quick ratio of 1.27, a current ratio of 2.07 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $40.75 and a 200-day moving average price of $43.92. Cabot Corp has a 12 month low of $37.11 and a 12 month high of $66.00. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.15 and a beta of 1.50.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, hitting the consensus estimate of $1.00. Cabot had a net margin of 6.49% and a return on equity of 18.60%. The firm had revenue of $845.00 million during the quarter, compared to analysts’ expectations of $858.86 million. During the same quarter in the previous year, the company posted $1.06 EPS. Cabot’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that Cabot Corp will post 3.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 29th. Cabot’s dividend payout ratio (DPR) is presently 34.74%.

A number of research firms recently weighed in on CBT. Northcoast Research set a $45.00 target price on Cabot and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research cut shares of Cabot from a “hold” rating to a “sell” rating and set a $42.00 target price for the company. in a research note on Friday, August 9th. TheStreet cut shares of Cabot from a “b-” rating to a “c+” rating in a research note on Wednesday, August 14th. Loop Capital cut shares of Cabot from a “buy” rating to a “hold” rating and cut their target price for the company from $69.00 to $41.00 in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Cabot from $50.00 to $40.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.80.

Cabot Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and compounds of carbon black and rubber.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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