US Bancorp DE Has $1.37 Million Stock Holdings in Cabot Corporation (NYSE:CBT)

Key Points

• US Bancorp DE reduced its holdings in Cabot Corporation by 28.2%, selling 6,456 shares during the first quarter, leaving them with a total of 16,444 shares valued at approximately $1.37 million.
• Multiple institutional investors have increased their stakes in Cabot Corporation, with 93.18% of the stock now owned by institutional investors.
• Cabot announced a $0.45 quarterly dividend to be paid on September 11th, representing an annualized yield of 2.3% and a payout ratio of 23.53%.

US Bancorp DE decreased its stake in Cabot Corporation (NYSE:CBT - Free Report) by 28.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,444 shares of the specialty chemicals company's stock after selling 6,456 shares during the period. US Bancorp DE's holdings in Cabot were worth $1,367,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Natixis Advisors LLC increased its stake in Cabot by 14.0% during the first quarter. Natixis Advisors LLC now owns 141,417 shares of the specialty chemicals company's stock valued at $11,757,000 after purchasing an additional 17,338 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Cabot during the first quarter worth about $43,000. Mackenzie Financial Corp grew its position in Cabot by 18.3% in the 1st quarter. Mackenzie Financial Corp now owns 7,840 shares of the specialty chemicals company's stock valued at $652,000 after buying an additional 1,210 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Cabot by 5.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 22,002 shares of the specialty chemicals company's stock valued at $1,829,000 after buying an additional 1,177 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new stake in Cabot in the 1st quarter valued at about $646,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Price Performance

Shares of Cabot stock traded down $2.16 during trading on Monday, reaching $75.86. The company's stock had a trading volume of 330,289 shares, compared to its average volume of 429,981. The stock has a 50-day moving average price of $75.97 and a two-hundred day moving average price of $79.37. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. Cabot Corporation has a one year low of $70.40 and a one year high of $117.46. The stock has a market capitalization of $4.04 billion, a P/E ratio of 9.92 and a beta of 0.87.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%. The company had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. As a group, sell-side analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Cabot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders 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 dividend yield of 2.4%. Cabot's dividend payout ratio (DPR) is presently 23.53%.

Analysts Set New Price Targets

A number of 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 set a $82.00 price target on shares of Cabot and gave the company a "neutral" rating in a report on Tuesday, August 5th.

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.