Leeward Investments LLC MA Lowers Stock Position in Cabot Co. (NYSE:CBT)

Leeward Investments LLC MA lessened its holdings in Cabot Co. (NYSE:CBT) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 115,935 shares of the specialty chemicals company’s stock after selling 896 shares during the period. Leeward Investments LLC MA owned about 0.21% of Cabot worth $9,681,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vontobel Holding Ltd. purchased a new stake in shares of Cabot in the 4th quarter worth approximately $6,248,000. Wellington Management Group LLP lifted its position in Cabot by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after acquiring an additional 20,589 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Cabot during the fourth quarter valued at approximately $1,294,000. PNC Financial Services Group Inc. lifted its position in Cabot by 34.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the specialty chemicals company’s stock valued at $256,000 after acquiring an additional 939 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its position in Cabot by 603.7% during the third quarter. Gotham Asset Management LLC now owns 23,460 shares of the specialty chemicals company’s stock valued at $1,625,000 after acquiring an additional 20,126 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Analyst Ratings Changes

CBT has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of Cabot in a research report on Wednesday, March 27th. They set a “buy” rating and a $104.00 target price for the company. UBS Group cut shares of Cabot from a “buy” rating to a “neutral” rating and decreased their target price for the company from $90.00 to $87.00 in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft cut shares of Cabot from a “buy” rating to a “hold” rating and increased their target price for the company from $88.00 to $95.00 in a research report on Thursday, April 18th. Finally, StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Cabot has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Transactions at Cabot

In other news, EVP Jeff Ji Zhu sold 55,233 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $79.91, for a total value of $4,413,669.03. Following the sale, the executive vice president now owns 97,201 shares in the company, valued at $7,767,331.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.07% of the company’s stock.

Cabot Stock Performance

Shares of NYSE CBT traded up $0.53 during midday trading on Friday, reaching $93.56. The company had a trading volume of 173,821 shares, compared to its average volume of 301,688. The business’s 50-day simple moving average is $89.23 and its 200 day simple moving average is $80.35. The stock has a market cap of $5.19 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.99 and a beta of 1.28. Cabot Co. has a 1 year low of $63.73 and a 1 year high of $98.34. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74.

Cabot (NYSE:CBT) last posted its quarterly earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. The business had revenue of $958.00 million during the quarter, compared to analysts’ expectations of $927.28 million. Cabot had a net margin of 11.24% and a return on equity of 25.52%. On average, analysts forecast that Cabot Co. will post 6.58 earnings per share for the current fiscal 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.