Paradiem LLC grew its holdings in Cabot Co. (NYSE:CBT - Free Report) by 37.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,778 shares of the specialty chemicals company's stock after purchasing an additional 26,043 shares during the period. Cabot comprises about 2.2% of Paradiem LLC's investment portfolio, making the stock its 8th biggest holding. Paradiem LLC owned 0.17% of Cabot worth $7,997,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CBT. Envestnet Asset Management Inc. grew its holdings in shares of Cabot by 92.7% in the third quarter. Envestnet Asset Management Inc. now owns 288,216 shares of the specialty chemicals company's stock worth $19,965,000 after acquiring an additional 138,663 shares during the period. AQR Capital Management LLC grew its holdings in shares of Cabot by 350.6% in the third quarter. AQR Capital Management LLC now owns 176,452 shares of the specialty chemicals company's stock worth $12,223,000 after acquiring an additional 137,294 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Cabot by 176.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 124,422 shares of the specialty chemicals company's stock worth $10,389,000 after acquiring an additional 79,410 shares during the period. Vontobel Holding Ltd. bought a new stake in shares of Cabot in the fourth quarter worth $6,248,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Cabot by 541.7% in the third quarter. Victory Capital Management Inc. now owns 82,090 shares of the specialty chemicals company's stock worth $5,686,000 after acquiring an additional 69,298 shares during the period. Institutional investors own 93.18% of the company's stock.
Cabot Price Performance
Shares of Cabot stock traded up $0.56 during trading hours on Friday, hitting $93.59. The company's stock had a trading volume of 173,821 shares, compared to its average volume of 259,962. The business has a 50 day moving average price of $89.46 and a two-hundred day moving average price of $80.68. Cabot Co. has a 12-month low of $63.73 and a 12-month high of $98.34. The company has a market cap of $5.19 billion, a PE ratio of 12.15, a PEG ratio of 0.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04.
Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The specialty chemicals company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. Cabot had a return on equity of 25.52% and a net margin of 11.24%. The business had revenue of $958.00 million for the quarter, compared to the consensus estimate of $927.28 million. Analysts expect that Cabot Co. will post 6.58 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently commented on CBT shares. Mizuho started coverage on Cabot in a report on Wednesday, March 27th. They issued a "buy" rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded Cabot from a "buy" rating to a "hold" rating and lifted their target price for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. StockNews.com downgraded Cabot from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 14th. Finally, UBS Group downgraded Cabot from a "buy" rating to a "neutral" rating and lowered their target price for the company from $90.00 to $87.00 in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.17.
Check Out Our Latest Analysis on CBT
Insider Activity
In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the sale, the executive vice president now directly owns 97,201 shares in the company, valued at $7,767,331.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.07% of the company's stock.
About Cabot
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Free Report)
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.
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