Squarepoint Ops LLC grew its position in shares of Cabot Corp (NYSE:CBT) by 70.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,101 shares of the specialty chemicals company’s stock after purchasing an additional 48,231 shares during the period. Squarepoint Ops LLC owned approximately 0.20% of Cabot worth $5,028,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of CBT. Bessemer Group Inc. raised its stake in shares of Cabot by 575.7% during the third quarter. Bessemer Group Inc. now owns 2,034 shares of the specialty chemicals company’s stock valued at $128,000 after purchasing an additional 1,733 shares during the period. SG Americas Securities LLC raised its stake in shares of Cabot by 135.1% during the third quarter. SG Americas Securities LLC now owns 42,023 shares of the specialty chemicals company’s stock valued at $2,636,000 after purchasing an additional 24,148 shares during the period. Prudential Financial Inc. raised its stake in shares of Cabot by 304.1% during the third quarter. Prudential Financial Inc. now owns 274,307 shares of the specialty chemicals company’s stock valued at $17,205,000 after purchasing an additional 206,430 shares during the period. Commonwealth Bank of Australia purchased a new stake in shares of Cabot during the third quarter valued at approximately $401,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Cabot by 26.0% during the third quarter. Bank of New York Mellon Corp now owns 3,355,240 shares of the specialty chemicals company’s stock valued at $210,442,000 after purchasing an additional 691,985 shares during the period. Institutional investors own 86.62% of the company’s stock.
CBT stock opened at $40.79 on Monday. 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 0.53, a current ratio of 1.31 and a quick ratio of 0.75. The company has a market cap of $2.43 billion, a PE ratio of 10.12, a P/E/G ratio of 0.88 and a beta of 1.39.
The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 22nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, February 21st. Cabot’s payout ratio is currently 32.75%.
A number of research firms have recently issued reports on CBT. Zacks Investment Research lowered shares of Cabot from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. TheStreet raised shares of Cabot from a “c” rating to a “b-” rating in a research report on Tuesday, February 5th. Finally, ValuEngine downgraded shares of Cabot from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 5th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the stock. Cabot currently has an average rating of “Hold” and a consensus price target of $74.80.
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.
Featured Story: Recession
Want to see what other hedge funds are holding CBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Corp (NYSE:CBT).
Receive News & Ratings for Cabot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot and related companies with MarketBeat.com's FREE daily email newsletter.