Teacher Retirement System of Texas Sells 15,536 Shares of Cabot Corporation (NYSE:CBT)

Teacher Retirement System of Texas cut its stake in shares of Cabot Corporation (NYSE:CBT - Free Report) by 66.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,956 shares of the specialty chemicals company's stock after selling 15,536 shares during the quarter. Teacher Retirement System of Texas' holdings in Cabot were worth $661,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Monument Capital Management lifted its position in shares of Cabot by 10.9% in the 1st quarter. Monument Capital Management now owns 31,636 shares of the specialty chemicals company's stock valued at $2,630,000 after acquiring an additional 3,120 shares in the last quarter. KBC Group NV raised its stake in Cabot by 31.5% during the 1st 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 during the period. Copeland Capital Management LLC boosted its position in shares of Cabot by 5.8% in the first quarter. Copeland Capital Management LLC now owns 805,504 shares of the specialty chemicals company's stock worth $66,970,000 after buying an additional 44,132 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Cabot by 2.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 45,052 shares of the specialty chemicals company's stock valued at $3,746,000 after buying an additional 1,188 shares in the last quarter. Finally, Consolidated Planning Corp raised its position in Cabot by 80.4% during the first quarter. Consolidated Planning Corp now owns 9,431 shares of the specialty chemicals company's stock valued at $784,000 after buying an additional 4,204 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CBT shares. UBS Group decreased their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company 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 Stock Down 1.8%

NYSE CBT traded down $1.34 on Friday, reaching $74.92. The stock had a trading volume of 260,358 shares, compared to its average volume of 410,130. The company has a current ratio of 1.96, a quick ratio of 1.30 and a debt-to-equity ratio of 0.69. Cabot Corporation has a 1 year low of $71.64 and a 1 year high of $117.46. The business has a 50 day moving average price of $75.81 and a 200 day moving average price of $80.96. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 0.69 and a beta of 0.85.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $936.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Cabot had a return on equity of 26.76% and a net margin of 11.08%. The firm's revenue was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 earnings per share. On average, analysts forecast that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.40%. Cabot's dividend payout ratio (DPR) is currently 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.