Cibc World Market Inc. Acquires 6,056 Shares of Cabot Co. (NYSE:CBT)

Cibc World Market Inc. lifted its holdings in Cabot Co. (NYSE:CBTGet Rating) by 67.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,000 shares of the specialty chemicals company’s stock after acquiring an additional 6,056 shares during the period. Cibc World Market Inc.’s holdings in Cabot were worth $957,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CBT. California Public Employees Retirement System boosted its position in Cabot by 3.3% during the 2nd quarter. California Public Employees Retirement System now owns 11,623 shares of the specialty chemicals company’s stock valued at $741,000 after acquiring an additional 371 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Cabot by 14.3% during the 2nd quarter. Principal Financial Group Inc. now owns 270,343 shares of the specialty chemicals company’s stock valued at $17,246,000 after acquiring an additional 33,891 shares during the period. Eqis Capital Management Inc. grew its position in shares of Cabot by 28.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 11,623 shares of the specialty chemicals company’s stock valued at $741,000 after acquiring an additional 2,587 shares during the period. Advisors Asset Management Inc. grew its position in shares of Cabot by 37.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 29,846 shares of the specialty chemicals company’s stock valued at $1,904,000 after acquiring an additional 8,071 shares during the period. Finally, Texas Permanent School Fund grew its position in shares of Cabot by 1.7% during the 2nd quarter. Texas Permanent School Fund now owns 40,807 shares of the specialty chemicals company’s stock valued at $2,603,000 after acquiring an additional 689 shares during the period. 96.48% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Trading Up 2.2 %

CBT opened at $72.23 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.65 and a quick ratio of 1.05. The company’s 50 day simple moving average is $69.10 and its two-hundred day simple moving average is $69.72. Cabot Co. has a 1-year low of $50.96 and a 1-year high of $78.62. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 20.06 and a beta of 1.39.

Cabot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 25th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 23rd. Cabot’s dividend payout ratio (DPR) is 41.11%.

Analyst Ratings Changes

CBT has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Cabot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $90.00 in a report on Wednesday, November 16th. StockNews.com initiated coverage on Cabot in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cabot presently has a consensus rating of “Buy” and a consensus target price of $83.25.

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.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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