Legal & General Group Plc Trims Stake in Cabot Co. (NYSE:CBT)

Legal & General Group Plc trimmed its stake in shares of Cabot Co. (NYSE:CBT - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 91,960 shares of the specialty chemicals company's stock after selling 3,895 shares during the quarter. Legal & General Group Plc owned about 0.17% of Cabot worth $8,397,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in Cabot by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,323,347 shares of the specialty chemicals company's stock valued at $120,835,000 after purchasing an additional 103,380 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Cabot by 6.0% during the 4th quarter. Sei Investments Co. now owns 942,273 shares of the specialty chemicals company's stock valued at $86,039,000 after purchasing an additional 53,090 shares during the last quarter. Invesco Ltd. increased its position in Cabot by 7.1% during the 4th quarter. Invesco Ltd. now owns 845,261 shares of the specialty chemicals company's stock worth $77,181,000 after purchasing an additional 55,905 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Cabot by 21.6% in the 4th quarter. Copeland Capital Management LLC now owns 761,372 shares of the specialty chemicals company's stock valued at $69,521,000 after purchasing an additional 135,119 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Cabot by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,608 shares of the specialty chemicals company's stock worth $64,886,000 after buying an additional 3,175 shares during the last quarter. 93.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Cabot Stock Up 1.3 %

CBT stock traded up $0.99 during trading on Thursday, reaching $79.39. 73,478 shares of the stock were exchanged, compared to its average volume of 387,874. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. Cabot Co. has a twelve month low of $73.63 and a twelve month high of $117.46. The firm's 50 day moving average is $82.25 and its 200 day moving average is $94.24. The firm has a market cap of $4.30 billion, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 0.74 and a beta of 1.04.

Cabot (NYSE:CBT - Get Free Report) last posted its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, topping 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, research analysts forecast that Cabot Co. will post 7.57 EPS for the current year.

Cabot Company 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.