Cabot Co. (NYSE:CBT) Shares Acquired by Paradiem LLC

Paradiem LLC raised its stake in shares of Cabot Co. (NYSE:CBT) by 37.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,778 shares of the specialty chemicals company’s stock after acquiring an additional 26,043 shares during the period. Cabot makes up 2.2% of Paradiem LLC’s holdings, making the stock its 8th biggest holding. Paradiem LLC owned approximately 0.17% of Cabot worth $7,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CBT. Envestnet Asset Management Inc. boosted its stake in shares of Cabot by 92.7% in the third quarter. Envestnet Asset Management Inc. now owns 288,216 shares of the specialty chemicals company’s stock valued at $19,965,000 after purchasing an additional 138,663 shares during the period. AQR Capital Management LLC lifted its stake in Cabot by 350.6% in the third quarter. AQR Capital Management LLC now owns 176,452 shares of the specialty chemicals company’s stock worth $12,223,000 after acquiring an additional 137,294 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Cabot by 176.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 124,422 shares of the specialty chemicals company’s stock worth $10,389,000 after acquiring an additional 79,410 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in shares of Cabot during the 4th quarter worth approximately $6,248,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Cabot by 541.7% in the 3rd quarter. Victory Capital Management Inc. now owns 82,090 shares of the specialty chemicals company’s stock valued at $5,686,000 after acquiring an additional 69,298 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Jeff Ji Zhu sold 55,233 shares of Cabot stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $79.91, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.07% of the company’s stock.

Cabot Price Performance

NYSE CBT traded up $0.56 during trading hours on Friday, reaching $93.59. The company’s stock had a trading volume of 173,821 shares, compared to its average volume of 259,962. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $98.34. The stock has a market cap of $5.19 billion, a PE ratio of 12.15, a PEG ratio of 0.99 and a beta of 1.28. The company’s 50-day moving average is $89.46 and its two-hundred day moving average is $80.61. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on CBT shares. Deutsche Bank Aktiengesellschaft cut shares of Cabot from a “buy” rating to a “hold” rating and lifted their target price for the company from $88.00 to $95.00 in a report on Thursday, April 18th. Mizuho assumed coverage on shares of Cabot in a research note on Wednesday, March 27th. They issued a “buy” rating and a $104.00 price objective on the stock. StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, UBS Group cut shares of Cabot from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $90.00 to $87.00 in a research note on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.17.

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.