Cabot Corporation (NYSE:CBT) Shares Acquired 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 lifted its stake in Cabot Corporation (NYSE:CBT - Free Report) by 180.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,712 shares of the specialty chemicals company's stock after purchasing an additional 39,089 shares during the quarter. Ontario Teachers Pension Plan Board owned about 0.11% of Cabot worth $5,048,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LPL Financial LLC increased its holdings in shares of Cabot by 241.6% during the 4th quarter. LPL Financial LLC now owns 31,071 shares of the specialty chemicals company's stock worth $2,837,000 after buying an additional 21,974 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Cabot by 2.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 335,261 shares of the specialty chemicals company's stock valued at $30,613,000 after purchasing an additional 8,044 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Cabot by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 33,459 shares of the specialty chemicals company's stock valued at $3,055,000 after purchasing an additional 2,413 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Cabot by 6.3% during the 4th quarter. Bank of Montreal Can now owns 10,445 shares of the specialty chemicals company's stock worth $954,000 after purchasing an additional 622 shares during the period. Finally, Invesco Ltd. increased its position in shares of Cabot by 7.1% during the 4th quarter. Invesco Ltd. now owns 845,261 shares of the specialty chemicals company's stock worth $77,181,000 after purchasing an additional 55,905 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Down 3.2%

Shares of NYSE CBT opened at $77.52 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.30. Cabot Corporation has a 1 year low of $70.40 and a 1 year high of $117.46. The business has a 50-day moving average of $75.86 and a two-hundred day moving average of $79.72. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 10.13 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.80 by $0.10. The firm had revenue of $923.00 million for the quarter, compared to the consensus estimate of $957.29 million. Cabot had a return on equity of 25.68% and a net margin of 11.14%. On average, analysts forecast 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Cabot's payout ratio is currently 23.29%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group set a $82.00 target price on Cabot and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen cut Cabot from a "buy" rating to a "hold" rating in a research note 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.

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