Wells Fargo & Company MN Sells 31,403 Shares of Cabot Co. (NYSE:CBT)

Wells Fargo & Company MN trimmed its stake in Cabot Co. (NYSE:CBT - Free Report) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,379 shares of the specialty chemicals company's stock after selling 31,403 shares during the period. Wells Fargo & Company MN owned about 0.45% of Cabot worth $22,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CBT. HighTower Advisors LLC lifted its holdings in shares of Cabot by 107.2% during the 3rd quarter. HighTower Advisors LLC now owns 21,040 shares of the specialty chemicals company's stock worth $2,346,000 after acquiring an additional 10,888 shares during the period. Quantinno Capital Management LP acquired a new stake in Cabot during the third quarter valued at approximately $288,000. Stifel Financial Corp grew its stake in shares of Cabot by 15.1% in the 3rd quarter. Stifel Financial Corp now owns 45,023 shares of the specialty chemicals company's stock valued at $5,032,000 after purchasing an additional 5,898 shares during the period. Orion Portfolio Solutions LLC acquired a new stake in Cabot in the 3rd quarter valued at $609,000. Finally, MML Investors Services LLC grew its position in Cabot by 6.5% in the third quarter. MML Investors Services LLC now owns 6,358 shares of the specialty chemicals company's stock valued at $711,000 after acquiring an additional 389 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Cabot Trading Up 0.1 %

Shares of NYSE CBT traded up $0.08 during midday trading on Friday, hitting $78.40. The stock had a trading volume of 338,411 shares, compared to its average volume of 387,265. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. Cabot Co. has a fifty-two week low of $73.63 and a fifty-two week high of $117.46. The firm has a market cap of $4.25 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04. The company's 50-day simple moving average is $82.86 and its 200 day simple moving average is $95.12.

Cabot (NYSE:CBT - Get Free Report) last issued its 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%. Research analysts anticipate that Cabot Co. will post 7.57 EPS for the current year.

Analyst Ratings Changes

CBT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. Mizuho dropped their price target on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. UBS Group cut their price objective on Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $93.25.

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.