Y Intercept Hong Kong Ltd Acquires Shares of 8,712 Cabot Corporation $CBT

by · The Cerbat Gem

Y Intercept Hong Kong Ltd bought a new position in Cabot Corporation (NYSE:CBT – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 8,712 shares of the specialty chemicals company’s stock, valued at approximately $663,000.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its position in Cabot by 26.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,577 shares of the specialty chemicals company’s stock worth $120,000 after buying an additional 333 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Cabot by 134.6% in the third quarter. Teacher Retirement System of Texas now owns 19,327 shares of the specialty chemicals company’s stock valued at $1,470,000 after acquiring an additional 11,089 shares during the period. Covestor Ltd lifted its holdings in shares of Cabot by 48.3% in the 3rd quarter. Covestor Ltd now owns 1,354 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 441 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Cabot by 12.2% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 92,938 shares of the specialty chemicals company’s stock worth $7,068,000 after purchasing an additional 10,077 shares during the period. Finally, Inspire Advisors LLC purchased a new position in shares of Cabot during the 3rd quarter worth about $206,000. Institutional investors own 93.18% of the company’s stock.

Analysts Set New Price Targets

CBT has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Cabot in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced their price target on Cabot from $75.00 to $54.00 and set an “underweight” rating on the stock in a report on Friday, November 28th. UBS Group raised their price target on Cabot from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Cabot in a research report on Thursday, January 8th. Finally, Zacks Research upgraded Cabot from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.25.

View Our Latest Report on Cabot

Cabot Trading Up 0.9%

Shares of NYSE CBT opened at $72.84 on Tuesday. Cabot Corporation has a twelve month low of $58.33 and a twelve month high of $89.16. The firm has a market cap of $3.85 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 3.78 and a beta of 0.89. The business has a fifty day simple moving average of $68.35 and a two-hundred day simple moving average of $71.64. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.50.

Cabot (NYSE:CBT – Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The specialty chemicals company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.02). The firm had revenue of $899.00 million for the quarter, compared to the consensus estimate of $967.02 million. Cabot had a return on equity of 24.55% and a net margin of 8.91%.Cabot’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 EPS. Analysts expect that Cabot Corporation will post 7.57 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Cabot’s dividend payout ratio (DPR) is 29.95%.

Cabot Company Profile

(Free Report)

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.

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