Cabot Co. (NYSE:CBT) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC decreased its holdings in Cabot Co. (NYSE:CBT) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,127 shares of the specialty chemicals company’s stock after selling 2,794 shares during the period. NFJ Investment Group LLC owned approximately 0.10% of Cabot worth $3,253,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CBT. Cullen Frost Bankers Inc. acquired a new stake in Cabot in the 2nd quarter valued at about $34,000. Burleson & Company LLC acquired a new stake in shares of Cabot during the 1st quarter worth approximately $52,000. Nisa Investment Advisors LLC increased its holdings in shares of Cabot by 100.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the specialty chemicals company’s stock worth $57,000 after buying an additional 500 shares during the last quarter. Bbva USA acquired a new stake in shares of Cabot during the 2nd quarter worth approximately $113,000. Finally, First Bank & Trust increased its holdings in shares of Cabot by 18.7% during the 2nd quarter. First Bank & Trust now owns 1,994 shares of the specialty chemicals company’s stock worth $113,000 after buying an additional 314 shares during the last quarter. Institutional investors own 90.44% of the company’s stock.

Shares of CBT stock opened at $50.05 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.95 and a debt-to-equity ratio of 0.99. Cabot Co. has a 52 week low of $34.84 and a 52 week high of $65.25. The stock has a market capitalization of $2.84 billion, a PE ratio of -51.60 and a beta of 1.64. The firm has a 50 day moving average of $52.77 and a two-hundred day moving average of $55.78.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Sunday, August 8th. The specialty chemicals company reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.17. Cabot had a negative net margin of 1.61% and a positive return on equity of 27.56%. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $804.70 million. During the same quarter last year, the company posted ($0.07) EPS. The firm’s revenue was up 77.0% compared to the same quarter last year. Analysts expect that Cabot Co. will post 4.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 27th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 26th. This represents a $1.40 annualized dividend and a yield of 2.80%. Cabot’s dividend payout ratio is presently 67.31%.

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Cabot from a “neutral” rating to an “overweight” rating and set a $62.00 price target for the company in a report on Friday, July 23rd. Loop Capital upgraded shares of Cabot from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Thursday, July 1st. Jefferies Financial Group started coverage on shares of Cabot in a report on Tuesday, September 14th. They set a “buy” rating and a $75.00 price target for the company. TheStreet cut shares of Cabot from a “b-” rating to a “c+” rating in a research report on Tuesday, July 20th. Finally, Zacks Investment Research cut shares of Cabot from a “buy” rating to a “hold” rating and set a $52.00 price objective for the company. in a research report on Wednesday, September 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cabot currently has an average rating of “Buy” and an average target price of $71.89.

Cabot Company Profile

Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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