Cabot Corporation (NYSE:CBT) Shares Bought by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Cabot Corporation by 180.8% during the first quarter, holding 60,712 shares worth approximately $5,048,000.
• Cabot Corporation reported earnings per share of $1.90 for its latest quarter, exceeding expectations of $1.80, despite revenue falling short of estimates.
• The company announced a quarterly dividend of $0.45, resulting in an annualized dividend of $1.80 and a yield of 2.3%.

Ontario Teachers Pension Plan Board grew its holdings in shares of Cabot Corporation (NYSE:CBT - Free Report) by 180.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,712 shares of the specialty chemicals company's stock after purchasing an additional 39,089 shares during the period. Ontario Teachers Pension Plan Board owned about 0.11% of Cabot worth $5,048,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of CBT. Banque Cantonale Vaudoise purchased a new stake in Cabot during the first quarter worth about $43,000. CWM LLC increased its stake in Cabot by 55.0% during the first 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 purchased a new stake in Cabot during the first quarter worth about $83,000. Farther Finance Advisors LLC raised its position in Cabot by 1,346.4% in 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 raised its position in 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 in the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CBT. UBS Group set a $82.00 price target on Cabot and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Wall Street Zen cut Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th.

Cabot Price Performance

CBT stock traded down $1.74 on Monday, reaching $76.29. 75,188 shares of the company's stock were exchanged, compared to its average volume of 428,228. The stock has a fifty day moving average of $75.97 and a 200-day moving average of $79.37. Cabot Corporation has a twelve month low of $70.40 and a twelve month high of $117.46. The firm has a market cap of $4.06 billion, a PE ratio of 9.97 and a beta of 0.87. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66.

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

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Cabot's dividend payout ratio is currently 23.53%.

About Cabot

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.