JPMorgan Chase & Co. raised its stake in Cabot Co. (NYSE:CBT - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 451,513 shares of the specialty chemicals company's stock after purchasing an additional 96,179 shares during the quarter. JPMorgan Chase & Co. owned about 0.83% of Cabot worth $41,228,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Cabot in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Cabot by 37.2% in 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 period. GAMMA Investing LLC raised its holdings in shares of Cabot by 10.7% in 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 period. Manchester Capital Management LLC lifted its stake 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 in the last quarter. Finally, KBC Group NV grew its holdings in shares of Cabot by 43.1% during the 4th quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock worth $187,000 after purchasing an additional 616 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.
Cabot Stock Up 2.9 %
Shares of CBT stock traded up $2.25 on Friday, hitting $79.60. The stock had a trading volume of 393,818 shares, compared to its average volume of 385,496. The stock's 50 day moving average is $83.53 and its 200-day moving average is $95.92. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 10.57, a P/E/G ratio of 0.74 and a beta of 1.04. Cabot Co. has a 52-week low of $73.63 and a 52-week high of $117.46. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00.
Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates 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, research analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on CBT shares. Mizuho cut their price target on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price 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. UBS Group decreased their price target on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday. Finally, StockNews.com downgraded Cabot from a "buy" rating to a "hold" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Cabot presently has a consensus rating of "Hold" and a consensus price target of $93.25.
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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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