Geode Capital Management LLC Sells 9,141 Shares of Cabot Co. (NYSE:CBT)

Geode Capital Management LLC decreased its position in shares of Cabot Co. (NYSE:CBT - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,274,545 shares of the specialty chemicals company's stock after selling 9,141 shares during the quarter. Geode Capital Management LLC owned 2.35% of Cabot worth $116,405,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Verition Fund Management LLC boosted its holdings in shares of Cabot by 47.1% in the 3rd quarter. Verition Fund Management LLC now owns 6,911 shares of the specialty chemicals company's stock valued at $772,000 after purchasing an additional 2,212 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Cabot by 107.2% during the third quarter. HighTower Advisors LLC now owns 21,040 shares of the specialty chemicals company's stock worth $2,346,000 after purchasing an additional 10,888 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Cabot in the third quarter valued at $748,000. Quantinno Capital Management LP bought a new stake in shares of Cabot in the 3rd quarter valued at $288,000. Finally, Stifel Financial Corp raised its position 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 worth $5,032,000 after acquiring an additional 5,898 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on CBT shares. Mizuho cut their price target on Cabot from $122.00 to $110.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. StockNews.com downgraded Cabot from a "buy" rating to a "hold" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on Cabot from $105.00 to $85.00 and set an "underweight" rating for the company in a report on Friday, February 21st. Finally, UBS Group lowered their target price on Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $93.25.

Cabot Stock Performance

Shares of NYSE:CBT traded down $0.56 during midday trading on Monday, reaching $78.91. 24,868 shares of the company traded hands, compared to its average volume of 384,850. Cabot Co. has a 12 month low of $73.63 and a 12 month high of $117.46. The firm's fifty day moving average price is $83.53 and its two-hundred day moving average price is $95.81. 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 firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 10.48, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04.

Cabot (NYSE:CBT - Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The specialty chemicals company reported $1.76 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, equities 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.