Pacer Advisors Inc. Sells 11,069 Shares of Cabot Corporation (NYSE:CBT)

Key Points

• Pacer Advisors Inc. reduced its stake in Cabot Corporation by 67.7%, selling 11,069 shares in the 1st quarter, leaving it with 5,282 shares valued at $439,000.
• Several institutional investors have increased their positions in Cabot, with Farther Finance Advisors LLC raising its stake by an impressive 1,346.4% during the same period.
• Cabot Corporation announced a quarterly dividend of $0.45 per share, yielding 2.5% annually, with a payout ratio of 23.29%.

Pacer Advisors Inc. trimmed its stake in Cabot Corporation (NYSE:CBT - Free Report) by 67.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,282 shares of the specialty chemicals company's stock after selling 11,069 shares during the period. Pacer Advisors Inc.'s holdings in Cabot were worth $439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. bought a new stake in Cabot during the first quarter worth about $482,000. JPMorgan Chase & Co. raised its holdings in Cabot by 27.1% in the fourth quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock worth $41,228,000 after buying an additional 96,179 shares during the last quarter. SG Americas Securities LLC purchased a new position in Cabot in the first quarter worth about $1,102,000. GAMMA Investing LLC raised its holdings in Cabot by 26.1% in the first quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after buying an additional 352 shares during the last quarter. Finally, KBC Group NV raised its holdings in Cabot by 31.5% in the first quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company's stock worth $224,000 after buying an additional 644 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CBT shares. UBS Group set a $82.00 target price on shares of Cabot and gave the stock a "neutral" rating in a report on Tuesday. Wall Street Zen cut shares of Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th.

Cabot Stock Performance

Shares of CBT traded down $2.09 during mid-day trading on Wednesday, hitting $78.02. 288,162 shares of the company traded hands, compared to its average volume of 429,370. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.30 and a current ratio of 1.96. The stock has a 50-day moving average price of $75.80 and a two-hundred day moving average price of $79.73. Cabot Corporation has a 1 year low of $70.40 and a 1 year high of $117.46. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 10.20 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 for the quarter, topping the consensus estimate of $1.80 by $0.10. The business had revenue of $923.00 million for the quarter, compared to the consensus estimate of $957.29 million. Cabot had a net margin of 11.14% and a return on equity of 26.17%. Equities analysts anticipate that Cabot Corporation will post 7.57 earnings per share for the current year.

Cabot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders 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 dividend yield of 2.3%. Cabot's dividend payout ratio is presently 23.29%.

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.