American International Group Inc. Has $8.49 Million Stock Holdings in Cabot Co. (NYSE:CBT)

American International Group Inc. cut its stake in shares of Cabot Co. (NYSE:CBT) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,721 shares of the specialty chemicals company’s stock after selling 4,282 shares during the period. American International Group Inc.’s holdings in Cabot were worth $8,494,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Cabot in the fourth quarter valued at approximately $258,000. Eventide Asset Management LLC acquired a new stake in shares of Cabot in the fourth quarter valued at approximately $6,919,000. Sei Investments Co. lifted its position in shares of Cabot by 33.9% in the fourth quarter. Sei Investments Co. now owns 812,614 shares of the specialty chemicals company’s stock valued at $67,854,000 after buying an additional 205,582 shares during the last quarter. Personal CFO Solutions LLC lifted its position in shares of Cabot by 17.4% in the fourth quarter. Personal CFO Solutions LLC now owns 4,266 shares of the specialty chemicals company’s stock valued at $356,000 after buying an additional 633 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Cabot by 267.3% in the fourth quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company’s stock valued at $950,000 after buying an additional 8,282 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Karen A. Kalita sold 13,764 shares of Cabot stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.73, for a total value of $1,400,211.72. Following the transaction, the senior vice president now owns 34,312 shares in the company, valued at approximately $3,490,559.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.07% of the company’s stock.

Cabot Price Performance

Cabot stock opened at $97.66 on Thursday. The stock’s fifty day moving average price is $97.74 and its two-hundred day moving average price is $87.87. Cabot Co. has a one year low of $63.73 and a one year high of $103.49. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.24 and a quick ratio of 1.47. The firm has a market cap of $5.40 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.96 and a beta of 1.26.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.12. Cabot had a return on equity of 26.21% and a net margin of 11.51%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the company earned $1.33 EPS. The company’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts expect that Cabot Co. will post 6.78 EPS for the current fiscal year.

Cabot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Friday, May 31st. This is a positive change from Cabot’s previous quarterly dividend of $0.40. Cabot’s dividend payout ratio (DPR) is 21.77%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CBT. StockNews.com raised Cabot from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. UBS Group increased their target price on Cabot from $100.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and increased their target price for the stock from $88.00 to $95.00 in a research note on Thursday, April 18th. Finally, Mizuho increased their target price on Cabot from $104.00 to $109.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

Cabot Profile

Cabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are 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 engineered elastomer composites solutions.