Cabot Co. (NYSE:CBT) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in shares of Cabot Co. (NYSE:CBT) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,072 shares of the specialty chemicals company’s stock after buying an additional 3,053 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Cabot worth $3,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in Cabot by 9.0% during the first quarter. Fifth Third Bancorp now owns 3,193 shares of the specialty chemicals company’s stock valued at $167,000 after buying an additional 263 shares in the last quarter. The PNC Financial Services Group Inc. raised its stake in Cabot by 14.1% during the first quarter. The PNC Financial Services Group Inc. now owns 2,593 shares of the specialty chemicals company’s stock valued at $136,000 after buying an additional 321 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Cabot by 2.7% during the 1st quarter. HighTower Advisors LLC now owns 13,669 shares of the specialty chemicals company’s stock worth $714,000 after purchasing an additional 365 shares during the period. Advisor Group Holdings Inc. raised its position in shares of Cabot by 4.3% during the 2nd quarter. Advisor Group Holdings Inc. now owns 9,243 shares of the specialty chemicals company’s stock worth $526,000 after purchasing an additional 378 shares during the period. Finally, State of Michigan Retirement System raised its position in shares of Cabot by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 21,009 shares of the specialty chemicals company’s stock worth $1,102,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 90.44% of the company’s stock.

Shares of CBT stock opened at $49.85 on Wednesday. Cabot Co. has a 12-month low of $34.84 and a 12-month high of $65.25. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -51.39 and a beta of 1.64. The business has a 50 day simple moving average of $53.97 and a 200 day simple moving average of $55.90. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.95 and a quick ratio of 1.25.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Sunday, August 8th. The specialty chemicals company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.17. The firm had revenue of $917.00 million during the quarter, compared to analyst estimates of $804.70 million. Cabot had a positive return on equity of 27.56% and a negative net margin of 1.61%. The firm’s quarterly revenue was up 77.0% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, equities analysts anticipate that Cabot Co. will post 4.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 27th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Thursday, August 26th. Cabot’s payout ratio is currently 67.31%.

A number of brokerages have recently weighed in on CBT. TheStreet cut Cabot from a “b-” rating to a “c+” rating in a research report on Tuesday, July 20th. Loop Capital upgraded Cabot from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Thursday, July 1st. Jefferies Financial Group began coverage on Cabot in a research report on Tuesday. They set a “buy” rating and a $75.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded Cabot from a “neutral” rating to an “overweight” rating and set a $62.00 price target on the stock in a research report on Friday, July 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Cabot presently has an average rating of “Buy” and a consensus price target of $72.33.

About Cabot

Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.

Read More: What are benefits of a growth and income fund?

Want to see what other hedge funds are holding CBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Co. (NYSE:CBT).

Institutional Ownership by Quarter for Cabot (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.