Dean Capital Management Decreases Position in Cabot Corp (NYSE:CBT)

Dean Capital Management trimmed its position in shares of Cabot Corp (NYSE:CBT) by 47.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,220 shares of the specialty chemicals company’s stock after selling 17,010 shares during the quarter. Dean Capital Management’s holdings in Cabot were worth $1,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Oakbrook Investments LLC lifted its position in Cabot by 17.2% in the 2nd quarter. Oakbrook Investments LLC now owns 5,790 shares of the specialty chemicals company’s stock valued at $358,000 after acquiring an additional 850 shares in the last quarter. Arizona State Retirement System lifted its position in Cabot by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 42,920 shares of the specialty chemicals company’s stock valued at $2,651,000 after acquiring an additional 1,131 shares in the last quarter. M&T Bank Corp lifted its position in Cabot by 11.5% in the 1st quarter. M&T Bank Corp now owns 12,930 shares of the specialty chemicals company’s stock valued at $720,000 after acquiring an additional 1,336 shares in the last quarter. Trust Co. of Vermont lifted its position in Cabot by 104.4% in the 1st quarter. Trust Co. of Vermont now owns 2,995 shares of the specialty chemicals company’s stock valued at $167,000 after acquiring an additional 1,530 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Cabot by 3.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 53,121 shares of the specialty chemicals company’s stock valued at $3,281,000 after acquiring an additional 1,530 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

Several research firms recently commented on CBT. Barclays began coverage on shares of Cabot in a research report on Monday. They issued an “overweight” rating and a $76.00 price objective on the stock. Loop Capital set a $82.00 price objective on shares of Cabot and gave the company a “buy” rating in a research report on Tuesday, July 17th. Finally, TheStreet raised shares of Cabot from a “c+” rating to a “b+” rating in a research report on Tuesday, August 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $82.43.

In other news, SVP Brian A. Berube sold 13,448 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $65.43, for a total transaction of $879,902.64. Following the transaction, the senior vice president now directly owns 52,127 shares in the company, valued at approximately $3,410,669.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick M. Prevost sold 19,481 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $65.04, for a total transaction of $1,267,044.24. Following the transaction, the director now owns 257,413 shares in the company, valued at $16,742,141.52. The disclosure for this sale can be found here. Insiders sold a total of 89,448 shares of company stock worth $5,860,779 over the last quarter. Company insiders own 2.20% of the company’s stock.

Shares of CBT stock opened at $64.35 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.49. Cabot Corp has a 1 year low of $53.17 and a 1 year high of $68.63. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.38 and a beta of 1.32.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 6th. The specialty chemicals company reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Cabot had a negative net margin of 4.46% and a positive return on equity of 17.41%. The firm had revenue of $854.00 million for the quarter, compared to analyst estimates of $831.59 million. During the same period in the previous year, the business earned $0.81 EPS. The company’s revenue was up 21.1% compared to the same quarter last year. Research analysts expect that Cabot Corp will post 4.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $1.32 annualized dividend and a yield of 2.05%. Cabot’s payout ratio is currently 38.48%.

Cabot declared that its board has authorized a stock repurchase program on Monday, July 16th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the specialty chemicals company to purchase up to 10.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Cabot Company Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers carbon black, a form of elemental carbon used to enhance the physical properties of the systems and applications in which it is incorporated; and rubber blacks for use as a rubber reinforcing agent and performance additive in tires, hoses, belts, extruded profiles, and molded goods.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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