Penserra Capital Management LLC Purchases New Shares in Cabot Corporation (NYSE:CBT)

Penserra Capital Management LLC bought a new stake in shares of Cabot Corporation (NYSE:CBT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,989 shares of the specialty chemicals company's stock, valued at approximately $331,000.

Several other large investors also recently added to or reduced their stakes in CBT. EverSource Wealth Advisors LLC grew its position in Cabot by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after buying an additional 219 shares during the period. Curat Global LLC bought a new stake in Cabot during the first quarter valued at approximately $83,000. Farther Finance Advisors LLC lifted its holdings in Cabot by 1,346.4% during the first 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. GAMMA Investing LLC lifted its holdings in Cabot by 26.1% during the first 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. Finally, KBC Group NV lifted its holdings in Cabot by 31.5% during the first quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company's stock valued at $224,000 after purchasing an additional 644 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Cabot Price Performance

Shares of CBT stock traded down $0.64 during mid-day trading on Friday, hitting $78.42. The company had a trading volume of 251,466 shares, compared to its average volume of 410,208. Cabot Corporation has a 52-week low of $71.64 and a 52-week high of $117.46. The stock's 50 day moving average price is $75.61 and its 200-day moving average price is $81.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.30. The company has a market capitalization of $4.21 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.71 and a beta of 0.85.

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

Cabot Dividend Announcement

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 annualized dividend and a dividend yield of 2.30%. Cabot's dividend payout ratio (DPR) is presently 23.29%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CBT. Wall Street Zen downgraded shares of Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group lowered their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a report on Monday, April 7th.

Cabot 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.