American International Group Inc. Has $9.20 Million Stake in Cabot Co. (NYSE:CBT)

American International Group Inc. lowered its position in Cabot Co. (NYSE:CBT) by 1.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 99,747 shares of the specialty chemicals company’s stock after selling 1,974 shares during the period. American International Group Inc. owned 0.18% of Cabot worth $9,197,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise lifted its position in shares of Cabot by 17.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 833 shares of the specialty chemicals company’s stock worth $77,000 after purchasing an additional 124 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Cabot by 1.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 10,851 shares of the specialty chemicals company’s stock valued at $1,000,000 after acquiring an additional 145 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 196 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Cabot by 8.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,464 shares of the specialty chemicals company’s stock valued at $226,000 after acquiring an additional 199 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Cabot by 81.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 207 shares in the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Stock Up 2.0 %

CBT stock traded up $1.90 during midday trading on Thursday, reaching $98.06. 95,787 shares of the company’s stock traded hands, compared to its average volume of 314,747. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.97 and a beta of 1.20. The firm’s fifty day moving average price is $96.90 and its 200-day moving average price is $90.05. The company has a quick ratio of 1.47, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. Cabot Co. has a 52 week low of $64.51 and a 52 week high of $103.49.

Cabot (NYSE:CBT) last posted its earnings results on Monday, May 6th. The specialty chemicals company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.12. Cabot had a net margin of 11.51% and a return on equity of 26.21%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cabot Co. will post 6.78 earnings per share for the current fiscal year.

Cabot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.43 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 1.75%. Cabot’s payout ratio is 21.77%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CBT shares. Deutsche Bank Aktiengesellschaft lowered shares of Cabot from a “buy” rating to a “hold” rating and lifted their price objective for the company from $88.00 to $95.00 in a research note on Thursday, April 18th. StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. UBS Group lifted their price objective on shares of Cabot from $100.00 to $103.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Mizuho boosted their price target on shares of Cabot from $104.00 to $109.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Cabot presently has an average rating of “Moderate Buy” and a consensus price target of $91.80.

Insider Transactions at Cabot

In other news, SVP Karen A. Kalita sold 13,764 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $101.73, for a total value of $1,400,211.72. Following the completion of the sale, the senior vice president now owns 34,312 shares in the company, valued at approximately $3,490,559.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.07% of the company’s stock.

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.