Menta Capital LLC Grows Holdings in Cabot Corp (CBT)

Menta Capital LLC lifted its position in Cabot Corp (NYSE:CBT) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,300 shares of the specialty chemicals company’s stock after purchasing an additional 1,600 shares during the quarter. Menta Capital LLC’s holdings in Cabot were worth $304,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cabot by 0.9% in the third quarter. Vanguard Group Inc. now owns 5,112,514 shares of the specialty chemicals company’s stock valued at $320,657,000 after purchasing an additional 47,083 shares during the period. Dimensional Fund Advisors LP raised its position in Cabot by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,308,212 shares of the specialty chemicals company’s stock valued at $56,174,000 after purchasing an additional 18,543 shares during the period. FMR LLC raised its position in Cabot by 2.6% in the fourth quarter. FMR LLC now owns 1,204,771 shares of the specialty chemicals company’s stock valued at $51,733,000 after purchasing an additional 30,658 shares during the period. Victory Capital Management Inc. raised its position in Cabot by 11.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,194,727 shares of the specialty chemicals company’s stock valued at $51,302,000 after purchasing an additional 120,584 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in Cabot in the fourth quarter valued at $40,483,000. Hedge funds and other institutional investors own 86.49% of the company’s stock.

CBT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Cabot from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. ValuEngine downgraded Cabot from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 5th. TheStreet upgraded Cabot from a “c” rating to a “b-” rating in a report on Tuesday, February 5th. Finally, Loop Capital cut their price objective on Cabot to $69.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. Cabot has a consensus rating of “Hold” and an average target price of $73.33.

CBT traded up $0.04 on Wednesday, hitting $41.37. 365,300 shares of the company were exchanged, compared to its average volume of 386,581. Cabot Corp has a twelve month low of $39.57 and a twelve month high of $67.80. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.95 and a beta of 1.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.34 and a quick ratio of 0.86.

Cabot (NYSE:CBT) last released its earnings results on Monday, May 6th. The specialty chemicals company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.02. The firm had revenue of $844.00 million during the quarter, compared to analysts’ expectations of $868.00 million. Cabot had a return on equity of 19.06% and a net margin of 8.13%. Cabot’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 EPS. On average, research analysts anticipate that Cabot Corp will post 4.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.35 per share. This is a boost from Cabot’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Thursday, May 30th. Cabot’s dividend payout ratio is currently 32.75%.

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Cabot Profile

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.

Further Reading: Moving Average Convergence Divergence (MACD)

Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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