Texas Permanent School Fund Grows Position in Cabot Corp (CBT)

Texas Permanent School Fund increased its holdings in Cabot Corp (NYSE:CBT) by 2.9% during the first quarter, HoldingsChannel reports. The firm owned 40,413 shares of the specialty chemicals company’s stock after purchasing an additional 1,131 shares during the period. Texas Permanent School Fund’s holdings in Cabot were worth $1,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Comerica Bank lifted its stake in shares of Cabot by 11.4% in the first quarter. Comerica Bank now owns 112,414 shares of the specialty chemicals company’s stock worth $5,025,000 after buying an additional 11,544 shares during the last quarter. Menta Capital LLC raised its stake in Cabot by 28.1% during the 1st quarter. Menta Capital LLC now owns 7,300 shares of the specialty chemicals company’s stock valued at $304,000 after purchasing an additional 1,600 shares during the last quarter. Zeke Capital Advisors LLC raised its stake in Cabot by 88.5% during the 1st quarter. Zeke Capital Advisors LLC now owns 22,491 shares of the specialty chemicals company’s stock valued at $936,000 after purchasing an additional 10,557 shares during the last quarter. Private Capital Group LLC raised its stake in Cabot by 238.6% during the 1st quarter. Private Capital Group LLC now owns 799 shares of the specialty chemicals company’s stock valued at $33,000 after purchasing an additional 563 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in Cabot by 2.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 182,212 shares of the specialty chemicals company’s stock valued at $7,585,000 after purchasing an additional 4,310 shares during the last quarter. Institutional investors and hedge funds own 87.04% of the company’s stock.

Several research firms recently commented on CBT. TheStreet upgraded shares of Cabot from a “c” rating to a “b-” rating in a research note on Tuesday, February 5th. Zacks Investment Research cut shares of Cabot from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Finally, ValuEngine upgraded shares of Cabot from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $77.67.

NYSE:CBT traded down $0.34 during trading hours on Wednesday, hitting $43.45. 886 shares of the company traded hands, compared to its average volume of 391,174. The stock has a market cap of $2.53 billion, a P/E ratio of 10.79, a PEG ratio of 0.99 and a beta of 1.40. Cabot Corp has a twelve month low of $39.57 and a twelve month high of $67.80. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.34 and a quick ratio of 0.86.

Cabot (NYSE:CBT) last released its earnings results on Monday, May 6th. The specialty chemicals company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.02. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $868.00 million. Cabot had a net margin of 8.13% and a return on equity of 19.06%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS. As a group, equities research analysts anticipate that Cabot Corp will post 4.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.35 dividend. This is a boost from Cabot’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, May 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.22%. Cabot’s dividend payout ratio is currently 32.75%.

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About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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