Aigen Investment Management LP Buys New Holdings in Cabot Corporation $CBT

Key Points

• Aigen Investment Management LP has acquired 4,213 shares of Cabot Corporation (NYSE: CBT), valued at approximately $350,000, as part of its new position in the company.
• Cabot recently reported $1.90 earnings per share for the quarter, exceeding estimates, and also announced a quarterly dividend of $0.45, resulting in a 2.2% dividend yield.
• Institutional investors and hedge funds currently hold a substantial 93.18% stake in Cabot Corporation, indicating strong institutional interest in the company.

Aigen Investment Management LP acquired a new position in Cabot Corporation (NYSE:CBT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,213 shares of the specialty chemicals company's stock, valued at approximately $350,000.

Several other institutional investors have also recently modified their holdings of CBT. Banque Cantonale Vaudoise acquired a new stake in Cabot during the first quarter worth about $43,000. CWM LLC grew its stake in shares of Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock worth $50,000 after purchasing an additional 213 shares during the period. Curat Global LLC acquired a new stake in shares of Cabot during the 1st quarter worth approximately $83,000. Farther Finance Advisors LLC increased its holdings in shares of Cabot by 1,346.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company's stock valued at $136,000 after purchasing an additional 1,508 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock valued at $141,000 after purchasing an additional 352 shares during the period. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Trading Up 1.0%

CBT stock traded up $0.79 during trading on Monday, reaching $78.94. 86,430 shares of the stock were exchanged, compared to its average volume of 428,193. The business has a 50 day moving average price of $76.36 and a 200-day moving average price of $79.05. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.32 and a beta of 0.87. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. Cabot Corporation has a 1 year low of $70.40 and a 1 year high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.10. The company had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 25.68%. On average, research analysts predict that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. Cabot's payout ratio is currently 23.53%.

Insiders Place Their Bets

In other news, CEO Sean D. Keohane sold 114,436 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $79.28, for a total value of $9,072,486.08. Following the sale, the chief executive officer directly owned 361,518 shares in the company, valued at approximately $28,661,147.04. This trade represents a 24.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group set a $82.00 price target on Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

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.