Penserra Capital Management LLC Invests $331,000 in Cabot Corporation (NYSE:CBT)

Penserra Capital Management LLC acquired a new position in shares of Cabot Corporation (NYSE:CBT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,989 shares of the specialty chemicals company's stock, valued at approximately $331,000.

Several other large investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. bought a new stake in Cabot in the 1st quarter valued at $482,000. JPMorgan Chase & Co. grew its stake in Cabot by 27.1% in the 4th quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock valued at $41,228,000 after buying an additional 96,179 shares during the last quarter. SG Americas Securities LLC acquired a new position in Cabot in the 1st quarter valued at about $1,102,000. GAMMA Investing LLC boosted its holdings 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 during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Cabot during the 1st quarter worth approximately $975,000. 93.18% of the stock is owned by institutional investors.

Cabot Price Performance

NYSE:CBT traded down $1.60 during mid-day trading on Tuesday, hitting $76.20. 215,054 shares of the stock traded hands, compared to its average volume of 409,861. The company has a quick ratio of 1.30, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Cabot Corporation has a 12-month low of $71.64 and a 12-month high of $117.46. The company has a market cap of $4.09 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 0.71 and a beta of 0.85. The business's 50-day moving average price is $75.61 and its 200 day moving average price is $81.34.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The specialty chemicals company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.04. Cabot had a net margin of 11.08% and a return on equity of 26.76%. The business had revenue of $936.00 million during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business's quarterly revenue was down 8.1% compared to the same quarter last year. On average, analysts expect that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.36%. Cabot's dividend payout ratio is currently 23.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. UBS Group dropped their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th.

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.