FMR LLC reduced its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,245,180 shares of the specialty chemicals company's stock after selling 20,992 shares during the quarter. FMR LLC owned 4.14% of Cabot worth $205,007,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Cabot in the fourth quarter valued at $37,961,000. Copeland Capital Management LLC grew its stake in shares of Cabot by 21.6% during the fourth quarter. Copeland Capital Management LLC now owns 761,372 shares of the specialty chemicals company's stock valued at $69,521,000 after acquiring an additional 135,119 shares in the last quarter. American Century Companies Inc. increased its holdings in Cabot by 8.5% during the 4th quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company's stock worth $120,835,000 after purchasing an additional 103,380 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cabot by 27.1% in the fourth quarter. JPMorgan Chase & Co. now owns 451,513 shares of the specialty chemicals company's stock worth $41,228,000 after buying an additional 96,179 shares during the last quarter. Finally, Lightrock Netherlands B.V. acquired a new position in Cabot during the 4th quarter worth $6,228,000. 93.18% of the stock is owned by institutional investors and hedge funds.
Cabot Stock Performance
NYSE:CBT traded up $0.08 during midday trading on Friday, reaching $78.40. 338,411 shares of the company traded hands, compared to its average volume of 387,265. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04. The company has a fifty day moving average price of $82.86 and a 200 day moving average price of $95.12. 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 twelve month low of $73.63 and a twelve month high of $117.46.
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%. On average, analysts expect that Cabot Co. will post 7.57 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. Mizuho reduced their price target on shares of Cabot from $122.00 to $110.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, February 21st. Finally, UBS Group decreased their price objective on shares of Cabot from $93.00 to $83.00 and set a "neutral" rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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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