Legal & General Group Plc lifted its stake in shares of Cabot Corp (NYSE:CBT) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,976 shares of the specialty chemicals company’s stock after buying an additional 6,848 shares during the quarter. Legal & General Group Plc owned about 0.13% of Cabot worth $4,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. AJO LP lifted its stake in shares of Cabot by 196.4% in the second quarter. AJO LP now owns 918,731 shares of the specialty chemicals company’s stock worth $49,088,000 after buying an additional 608,799 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Cabot by 7.2% in the second quarter. BlackRock Inc. now owns 7,544,005 shares of the specialty chemicals company’s stock worth $403,077,000 after buying an additional 505,594 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Cabot by 41.8% in the second quarter. Earnest Partners LLC now owns 1,491,521 shares of the specialty chemicals company’s stock worth $79,692,000 after buying an additional 439,350 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Cabot by 433.2% in the third quarter. BNP Paribas Arbitrage SA now owns 440,191 shares of the specialty chemicals company’s stock worth $24,563,000 after buying an additional 357,639 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Cabot by 37.9% during the third quarter. Victory Capital Management Inc. now owns 1,102,342 shares of the specialty chemicals company’s stock valued at $61,511,000 after purchasing an additional 302,750 shares during the period. Institutional investors own 84.83% of the company’s stock.
A number of brokerages have recently issued reports on CBT. Zacks Investment Research cut shares of Cabot from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Loop Capital raised shares of Cabot from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Friday, January 5th. Jefferies Group reissued a “buy” rating and issued a $74.00 price objective on shares of Cabot in a research note on Friday, November 3rd. ValuEngine raised shares of Cabot from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Cabot in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $64.43.
Cabot Corp (NYSE CBT) traded up $0.94 during mid-day trading on Thursday, reaching $66.40. 739,076 shares of the company’s stock traded hands, compared to its average volume of 423,597. The company has a market capitalization of $4,060.00, a price-to-earnings ratio of 17.43, a P/E/G ratio of 1.73 and a beta of 1.11. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.41. Cabot Corp has a fifty-two week low of $50.21 and a fifty-two week high of $66.57.
Cabot (NYSE:CBT) last released its earnings results on Tuesday, October 31st. The specialty chemicals company reported $0.91 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). The firm had revenue of $723.00 million during the quarter, compared to the consensus estimate of $683.30 million. Cabot had a return on equity of 15.11% and a net margin of 8.87%. Cabot’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. research analysts anticipate that Cabot Corp will post 3.79 EPS for the current fiscal year.
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Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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