QRG Capital Management Inc. Invests $482,000 in Cabot Corporation (NYSE:CBT)

QRG Capital Management Inc. acquired a new stake in shares of Cabot Corporation (NYSE:CBT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,797 shares of the specialty chemicals company's stock, valued at approximately $482,000.

Several other hedge funds also recently bought and sold shares of CBT. Norges Bank purchased a new position in Cabot in the 4th quarter worth approximately $37,961,000. Millennium Management LLC raised its holdings in Cabot by 67.7% during the 4th quarter. Millennium Management LLC now owns 349,369 shares of the specialty chemicals company's stock valued at $31,901,000 after buying an additional 141,050 shares during the last quarter. GAMMA Investing LLC raised its holdings in Cabot by 10,385.0% during the 1st quarter. GAMMA Investing LLC now owns 141,338 shares of the specialty chemicals company's stock valued at $11,751,000 after buying an additional 139,990 shares during the last quarter. American Century Companies Inc. raised its holdings in Cabot by 8.5% in the 4th quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company's stock worth $120,835,000 after purchasing an additional 103,380 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Cabot by 27.1% in the 4th quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock worth $41,228,000 after purchasing an additional 96,179 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company's stock.

Analyst Upgrades and Downgrades

CBT has been the topic of a number of recent research reports. UBS Group reduced their target price 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. Wall Street Zen downgraded shares of Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th.

Cabot Price Performance

CBT opened at $73.15 on Monday. The company's 50-day simple moving average is $76.01 and its two-hundred day simple moving average is $83.60. Cabot Corporation has a 52-week low of $71.64 and a 52-week high of $117.46. 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 market capitalization of $3.93 billion, a P/E ratio of 9.46, a P/E/G ratio of 0.66 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The specialty chemicals company reported $1.90 earnings per share 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 analysts' expectations of $1.02 billion. During the same quarter in the prior year, the business earned $1.78 EPS. The business's quarterly revenue was down 8.1% on a year-over-year basis. As a group, analysts predict that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.45 per share. This is a boost from Cabot's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.80 dividend on an annualized basis and a yield of 2.46%. Cabot's dividend payout ratio (DPR) is presently 23.29%.

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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