Raymond James Financial Inc. Acquires Shares of 55,380 Cabot Co. (NYSE:CBT)

Raymond James Financial Inc. purchased a new position in shares of Cabot Co. (NYSE:CBT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 55,380 shares of the specialty chemicals company's stock, valued at approximately $5,057,000. Raymond James Financial Inc. owned about 0.10% of Cabot as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC boosted its holdings in Cabot by 103.9% in the 3rd quarter. Barclays PLC now owns 113,614 shares of the specialty chemicals company's stock valued at $12,699,000 after purchasing an additional 57,907 shares during the period. World Investment Advisors LLC bought a new stake in shares of Cabot in the third quarter valued at about $3,161,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Cabot in the third quarter valued at about $1,651,000. Tidal Investments LLC grew its position in Cabot by 2.9% during the third quarter. Tidal Investments LLC now owns 11,917 shares of the specialty chemicals company's stock worth $1,332,000 after buying an additional 340 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in Cabot during the third quarter valued at about $654,000. 93.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Cabot Price Performance

Cabot stock traded down $0.41 during mid-day trading on Thursday, hitting $78.14. 78,550 shares of the company were exchanged, compared to its average volume of 392,292. Cabot Co. has a 1-year low of $73.63 and a 1-year high of $117.46. The company has a quick ratio of 1.29, a current ratio of 2.00 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $81.48 and a 200 day moving average of $93.14. The company has a market capitalization of $4.24 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04.

Cabot (NYSE:CBT - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

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.