Cabot-wellington Lowers stake in Cabot Corp (CBT)

Cabot Corp (CBT) : Cabot-wellington reduced its stake in Cabot Corp by 1.0% during the most recent quarter end. The investment management company now holds a total of 388,765 shares of Cabot Corp which is valued at $19,033,934 after selling 3,910 shares in Cabot Corp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Cabot Corp makes up approximately 16.03% of Cabot-wellington’s portfolio.

Other Hedge Funds, Including , Calvert Investment Management sold out all of its stake in CBT during the most recent quarter. The investment firm sold 5,850 shares of CBT which is valued $284,193.Great West Life Assurance Co Can boosted its stake in CBT in the latest quarter, The investment management firm added 29,519 additional shares and now holds a total of 37,713 shares of Cabot Corp which is valued at $1,800,796. Cabot Corp makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.Cambiar Investors reduced its stake in CBT by selling 40,293 shares or 6.39% in the most recent quarter. The Hedge Fund company now holds 590,054 shares of CBT which is valued at $28,599,917. Cabot Corp makes up approx 0.39% of Cambiar Investors’s portfolio.Ibm Retirement Fund reduced its stake in CBT by selling 262 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 6,172 shares of CBT which is valued at $303,662. Cabot Corp makes up approx 0.01% of Ibm Retirement Fund’s portfolio.

Cabot Corp opened for trading at $48.48 and hit $49.12 on the upside on Wednesday, eventually ending the session at $49.06, with a gain of 1.38% or 0.67 points. The heightened volatility saw the trading volume jump to 3,73,961 shares. Company has a market cap of $3,060 M.

On the company’s financial health, Cabot Corp reported $0.93 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $0.93. The company had revenue of $621.00 million for the quarter, compared to analysts expectations of $611.75 million. The company’s revenue was down -10.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS.

Investors should note that on Jul 8, 2016, Cabot Corp announced a cash dividend of $0.3000. The company’s management has announced Aug 24, 2016 as the ex-dividend date and fixed the record date on Aug 26, 2016. The payable date has been fixed on Sep 9, 2016.

Many Wall Street Analysts have commented on Cabot Corp. Cabot Corp was Downgraded by SunTrust to ” Neutral” on Aug 2, 2016.

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. The Reinforcement Materials segment includes rubber blacks products which are used in tires and industrial products. The Company’s Performance Chemicals consists of two businesses: Specialty Carbons and Formulations business and Metal Oxides business. The Purification Solutions segment includes activated carbon products which are used as either a colorant or a decolorizing agent in the production of products for food and beverage applications. The Company’s Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid.

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