Raymond James Financial Inc. Takes $5.06 Million Position in Cabot Co. (NYSE:CBT)

Raymond James Financial Inc. acquired a new position in Cabot Co. (NYSE:CBT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 55,380 shares of the specialty chemicals company's stock, valued at approximately $5,057,000. Raymond James Financial Inc. owned 0.10% of Cabot at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new stake in shares of Cabot in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its position in Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company's stock valued at $74,000 after acquiring an additional 219 shares in the last quarter. GAMMA Investing LLC increased 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 valued at $123,000 after acquiring an additional 130 shares during the period. Manchester Capital Management LLC raised its position 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 worth $153,000 after acquiring an additional 1,584 shares in the last quarter. Finally, KBC Group NV lifted its stake 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 last quarter. 93.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Cabot Stock Performance

Shares of NYSE CBT traded down $0.29 during midday trading on Tuesday, reaching $78.68. The company had a trading volume of 595,516 shares, compared to its average volume of 391,623. The stock has a market cap of $4.27 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.74 and a beta of 1.04. 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 1 year low of $73.63 and a 1 year high of $117.46. The business's 50-day simple moving average is $81.74 and its 200 day simple moving average is $93.34.

Cabot (NYSE:CBT - Get Free Report) last posted its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.02. Cabot had a return on equity of 26.79% and a net margin of 10.60%. On average, analysts forecast that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

About Cabot

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.