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Boston Advisors LLC Has $6,291,000 Position in Cabot Corp (CBT)

mideasttime.com    5/26/2016 11:52:00 AM    ReadCount:650

Boston Advisors LLC decreased its position in shares of Cabot Corp (NYSE:CBT) by 19.5% during the first quarter, Holdings Channel reports. The institutional investor owned 130,175 shares of the company’s stock after selling 31,475 shares during the period. Boston Advisors LLC owned 0.21% of Cabot Corp worth $6,291,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. TFS Capital LLC raised its stake in Cabot Corp by 326.6% in the fourth quarter. TFS Capital LLC now owns 68,589 shares of the company’s stock worth $2,804,000 after buying an additional 52,510 shares in the last quarter. Numeric Investors LLC raised its stake in Cabot Corp by 1,889.4% in the fourth quarter. Numeric Investors LLC now owns 489,388 shares of the company’s stock worth $20,006,000 after buying an additional 464,788 shares in the last quarter. California State Teachers Retirement System raised its stake in Cabot Corp by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 121,373 shares of the company’s stock worth $4,962,000 after buying an additional 1,960 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Cabot Corp by 1.2% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 380,455 shares of the company’s stock worth $15,553,000 after buying an additional 4,550 shares in the last quarter. Finally, First Quadrant L P CA raised its stake in Cabot Corp by 1,009.5% in the fourth quarter. First Quadrant L P CA now owns 179,747 shares of the company’s stock worth $7,348,000 after buying an additional 163,547 shares in the last quarter.

Shares of Cabot Corp (NYSE:CBT) traded up 0.02% during mid-day trading on Wednesday, hitting $45.43. 163,065 shares of the stock were exchanged. The stock’s 50 day moving average is $46.89 and its 200-day moving average is $43.72. The stock’s market cap is $2.83 billion. Cabot Corp has a 12 month low of $30.70 and a 12 month high of $50.68.

Cabot Corp (NYSE:CBT) last released its earnings results on Monday, May 2nd. The company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by $0.07. The firm earned $568 million during the quarter, compared to analyst estimates of $647.48 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was down 18.2% on a year-over-year basis. On average, analysts anticipate that Cabot Corp will post $3.12 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.62%. This is an increase from Cabot Corp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, May 25th.

A number of research firms have weighed in on CBT. Zacks Investment Research lowered shares of Cabot Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, April 19th. JPMorgan Chase & Co. lowered shares of Cabot Corp from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $45.00 to $47.00 in a research note on Monday, March 14th. They noted that the move was a valuation call. TheStreet upgraded shares of Cabot Corp from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. Finally, Deutsche Bank restated a “buy” rating on shares of Cabot Corp in a research note on Saturday, February 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $51.00.

In related news, VP James Patrick Kelly sold 12,225 shares of the company’s stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $47.05, for a total transaction of $575,186.25. Following the transaction, the vice president now owns 41,810 shares of the company’s stock, valued at $1,967,160.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick M. Prevost sold 60,000 shares of the company’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $44.98, for a total value of $2,698,800.00. Following the transaction, the chief executive officer now directly owns 351,458 shares in the company, valued at approximately $15,808,580.84. 

Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.