Mirae Asset Global Investments Co. Ltd. Purchases 34,525 Shares of Cabot Co. (NYSE:CBT)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cabot Co. (NYSE:CBTGet Rating) by 14.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,558 shares of the specialty chemicals company’s stock after acquiring an additional 34,525 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cabot were worth $18,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cibc World Market Inc. raised its holdings in shares of Cabot by 2.1% in the first quarter. Cibc World Market Inc. now owns 8,944 shares of the specialty chemicals company’s stock valued at $612,000 after purchasing an additional 181 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Cabot by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the specialty chemicals company’s stock worth $1,047,000 after buying an additional 200 shares during the last quarter. HighTower Advisors LLC increased its holdings in Cabot by 2.6% during the fourth quarter. HighTower Advisors LLC now owns 8,619 shares of the specialty chemicals company’s stock worth $488,000 after buying an additional 216 shares during the last quarter. Jackson Square Capital LLC increased its holdings in Cabot by 4.6% during the first quarter. Jackson Square Capital LLC now owns 5,435 shares of the specialty chemicals company’s stock worth $372,000 after buying an additional 237 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Cabot by 176.0% during the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 264 shares during the last quarter. 96.48% of the stock is owned by institutional investors.

Cabot Stock Performance

NYSE CBT opened at $69.70 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.70. The company has a market capitalization of $3.92 billion, a PE ratio of 28.33 and a beta of 1.39. Cabot Co. has a 52-week low of $47.59 and a 52-week high of $78.62. The company has a 50-day simple moving average of $71.83 and a 200 day simple moving average of $69.72.

Cabot (NYSE:CBTGet Rating) last issued its earnings results on Monday, August 8th. The specialty chemicals company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.20. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.05 billion. Cabot had a net margin of 3.50% and a return on equity of 32.30%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business earned $1.35 earnings per share. On average, research analysts predict that Cabot Co. will post 6.2 EPS for the current year.

Cabot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, August 25th. This represents a $1.48 dividend on an annualized basis and a yield of 2.12%. Cabot’s dividend payout ratio is presently 60.16%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Cabot from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Cabot Company Profile

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Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons 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.

Further Reading

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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