Ontario Teachers Pension Plan Board Raises Position in Cabot Corporation (NYSE:CBT)

Ontario Teachers Pension Plan Board lifted its holdings in Cabot Corporation (NYSE:CBT) by 180.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,712 shares of the specialty chemicals company’s stock after buying an additional 39,089 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Cabot were worth $5,048,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. increased its stake in Cabot by 7.1% in the 4th quarter. Invesco Ltd. now owns 845,261 shares of the specialty chemicals company’s stock valued at $77,181,000 after purchasing an additional 55,905 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Cabot by 5.8% in the 1st quarter. Copeland Capital Management LLC now owns 805,504 shares of the specialty chemicals company’s stock valued at $66,970,000 after purchasing an additional 44,132 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cabot by 12.4% during the 4th quarter. Northern Trust Corp now owns 794,477 shares of the specialty chemicals company’s stock worth $72,544,000 after purchasing an additional 87,881 shares during the last quarter. LSV Asset Management lifted its stake in shares of Cabot by 318.0% during the 1st quarter. LSV Asset Management now owns 571,034 shares of the specialty chemicals company’s stock worth $47,476,000 after purchasing an additional 434,434 shares during the period. Finally, Millennium Management LLC boosted its stake in Cabot by 67.7% in the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company’s stock worth $31,901,000 after buying an additional 141,050 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Trading Down 3.2%

NYSE:CBT opened at $77.52 on Thursday. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. The business’s 50-day simple moving average is $75.86 and its 200 day simple moving average is $79.72. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.30 and a current ratio of 2.13. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 10.13 and a beta of 0.87.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.10. The business had revenue of $923.00 million during the quarter, compared to the consensus estimate of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. As a group, sell-side analysts predict that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Cabot’s dividend payout ratio (DPR) is presently 23.29%.

Analyst Upgrades and Downgrades

CBT has been the subject of several research reports. Wall Street Zen cut shares of Cabot from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. UBS Group set a $82.00 price target on shares of Cabot and gave the company a “neutral” rating in a report on Tuesday.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 engineered elastomer composites solutions.