Renaissance Technologies LLC Has $6.01 Million Stake in Cabot Co. (NYSE:CBT)

Renaissance Technologies LLC raised its holdings in shares of Cabot Co. (NYSE:CBT - Free Report) by 197.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,800 shares of the specialty chemicals company's stock after acquiring an additional 43,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.12% of Cabot worth $6,008,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Cabot in the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its position in shares of Cabot by 37.2% during 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 last quarter. GAMMA Investing LLC raised its stake in shares of Cabot by 10.7% during 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 in the last quarter. Manchester Capital Management LLC grew its stake in shares of Cabot by 1,685.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company's stock valued at $153,000 after buying an additional 1,584 shares in the last quarter. Finally, KBC Group NV increased its holdings in Cabot by 43.1% during the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company's stock worth $187,000 after buying an additional 616 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company's stock.

Cabot Stock Performance

Cabot stock traded up $0.66 during trading hours on Thursday, hitting $79.06. The company had a trading volume of 58,308 shares, compared to its average volume of 387,822. The firm has a 50-day moving average of $82.25 and a 200 day moving average of $94.24. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. The firm has a market cap of $4.29 billion, a PE ratio of 10.49, a PEG ratio of 0.74 and a beta of 1.04. Cabot Co. has a one year low of $73.63 and a one year high of $117.46.

Cabot (NYSE:CBT - Get Free Report) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share for the quarter, topping 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, sell-side analysts expect that Cabot Co. will post 7.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CBT. Mizuho decreased their price objective on shares of 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 lowered their price target on Cabot from $93.00 to $83.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. StockNews.com upgraded Cabot from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their target price on Cabot from $105.00 to $85.00 and set an "underweight" rating on the stock in a report on Friday, February 21st.

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.