Cabot Corporation (CBT) Position Raised by Wright Investors Service Inc.

Wright Investors Service Inc. boosted its stake in shares of Cabot Corporation (NYSE:CBT) by 87.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,630 shares of the specialty chemicals company’s stock after buying an additional 4,030 shares during the period. Wright Investors Service Inc.’s holdings in Cabot Corporation were worth $461,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can boosted its position in Cabot Corporation by 4.8% in the first quarter. Great West Life Assurance Co. Can now owns 37,019 shares of the specialty chemicals company’s stock valued at $2,217,000 after buying an additional 1,693 shares in the last quarter. Wells Fargo & Company MN boosted its position in Cabot Corporation by 11.2% in the first quarter. Wells Fargo & Company MN now owns 122,954 shares of the specialty chemicals company’s stock valued at $7,367,000 after buying an additional 12,361 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in Cabot Corporation by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,860 shares of the specialty chemicals company’s stock valued at $1,310,000 after buying an additional 300 shares in the last quarter. Hillcrest Asset Management LLC boosted its position in Cabot Corporation by 8.1% in the first quarter. Hillcrest Asset Management LLC now owns 155,987 shares of the specialty chemicals company’s stock valued at $9,345,000 after buying an additional 11,660 shares in the last quarter. Finally, Breton Hill Capital Ltd. boosted its position in shares of Cabot Corporation by 81.9% in the first quarter. Breton Hill Capital Ltd. now owns 37,848 shares of the specialty chemicals company’s stock valued at $2,267,000 after buying an additional 17,036 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Cabot Corporation (NYSE CBT) traded up 0.88% on Friday, reaching $51.66. 360,120 shares of the company traded hands. Cabot Corporation has a one year low of $47.99 and a one year high of $61.34. The stock’s 50 day moving average price is $53.37 and its 200 day moving average price is $55.55. The company has a market capitalization of $3.21 billion, a PE ratio of 14.47 and a beta of 1.05.

Cabot Corporation (NYSE:CBT) last released its quarterly earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. The firm had revenue of $705 million for the quarter, compared to analysts’ expectations of $664.16 million. Cabot Corporation had a net margin of 8.61% and a return on equity of 16.03%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, equities research analysts predict that Cabot Corporation will post $3.45 EPS 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 given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Wednesday, August 23rd. Cabot Corporation’s payout ratio is 35.29%.

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Several research analysts have recently commented on the stock. BidaskClub cut shares of Cabot Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research lowered shares of Cabot Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. J P Morgan Chase & Co upgraded shares of Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a research report on Tuesday. ValuEngine lowered shares of Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Aegis reiterated a “hold” rating on shares of Cabot Corporation in a research report on Wednesday, May 31st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.50.

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.

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

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