Vanguard Group Inc. Sells 114,776 Shares of Cabot Corporation $CBT

Key Points

• Vanguard Group Inc. holds a $507.39 million stake in Cabot Corporation (NYSE: CBT), representing about 11.26% of the company, after reducing its holdings by 1.8% in the latest quarter.
• Cabot Corporation recently reported earnings of $1.90 per share, exceeding analyst expectations, but revenue fell short of projections at $923 million.
• The company declared a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 with a dividend yield of 2.3%.

Vanguard Group Inc. trimmed its position in Cabot Corporation (NYSE:CBT - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,102,800 shares of the specialty chemicals company's stock after selling 114,776 shares during the quarter. Vanguard Group Inc. owned about 11.26% of Cabot worth $507,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in shares of Cabot during the 1st quarter valued at $43,000. CWM LLC raised its holdings in Cabot by 55.0% during the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company's stock valued at $50,000 after acquiring an additional 213 shares during the period. Curat Global LLC bought a new position in shares of Cabot in the first quarter worth about $83,000. Farther Finance Advisors LLC grew its position in shares of 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 worth $136,000 after purchasing an additional 1,508 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Cabot by 26.1% during 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. Institutional investors own 93.18% of the company's stock.

Cabot Price Performance

NYSE CBT traded up $0.40 during trading on Monday, hitting $78.55. 102,595 shares of the stock traded hands, compared to its average volume of 428,334. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. Cabot Corporation has a 12-month low of $70.40 and a 12-month high of $117.46. The firm has a 50-day simple moving average of $76.36 and a 200-day simple moving average of $79.05. The company has a market capitalization of $4.18 billion, a P/E ratio of 10.27 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 for the quarter, beating analysts' consensus estimates of $1.80 by $0.10. Cabot had a net margin of 11.14% and a return on equity of 25.68%. The firm had revenue of $923.00 million during the quarter, compared to analyst estimates of $957.29 million. As a group, analysts predict that Cabot Corporation will post 7.57 EPS for the current year.

Cabot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 29th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Cabot's payout ratio is 23.53%.

Insider Activity

In other news, CEO Sean D. Keohane sold 114,436 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $79.28, for a total transaction of $9,072,486.08. Following the transaction, the chief executive officer owned 361,518 shares of the company's stock, valued at approximately $28,661,147.04. The trade was a 24.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.03% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CBT has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Cabot from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. UBS Group set a $82.00 target price on shares of Cabot and gave the company a "neutral" rating in a research note on Tuesday, August 5th.

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.