Pinebridge Investments L.P. Acquires 6,604 Shares of Cabot Co. (NYSE:CBT)

Pinebridge Investments L.P. raised its stake in Cabot Co. (NYSE:CBT - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,076 shares of the specialty chemicals company's stock after purchasing an additional 6,604 shares during the quarter. Pinebridge Investments L.P.'s holdings in Cabot were worth $2,016,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Cabot during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its stake in shares of Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock worth $74,000 after purchasing an additional 219 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Cabot by 10.7% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company's stock worth $123,000 after purchasing an additional 130 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Cabot by 1,685.1% in the 4th quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock valued at $153,000 after purchasing an additional 1,584 shares during the period. Finally, KBC Group NV lifted its stake in Cabot by 43.1% in the 4th quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock valued at $187,000 after purchasing an additional 616 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CBT shares. StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research note on Friday, February 21st. Mizuho cut their price objective on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group decreased their target price on Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th.

Cabot Stock Performance

NYSE:CBT traded down $1.34 during mid-day trading on Thursday, reaching $77.20. 599,117 shares of the company's stock were exchanged, compared to its average volume of 394,158. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00. The firm has a market capitalization of $4.19 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04. Cabot Co. has a one year low of $73.63 and a one year high of $117.46. The business's fifty day simple moving average is $81.48 and its two-hundred day simple moving average is $93.14.

Cabot (NYSE:CBT - Get Free Report) last announced its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. Analysts anticipate that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

About Cabot

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.