Campbell & CO Investment Adviser LLC bought a new position in Cabot Co. (NYSE:CBT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,300 shares of the specialty chemicals company’s stock, valued at approximately $335,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Cabot by 4.4% in the second quarter. Vanguard Group Inc. now owns 5,582,687 shares of the specialty chemicals company’s stock worth $206,838,000 after purchasing an additional 237,700 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Cabot by 17.8% in the 2nd quarter. Victory Capital Management Inc. now owns 2,028,461 shares of the specialty chemicals company’s stock worth $75,154,000 after acquiring an additional 306,813 shares in the last quarter. State Street Corp raised its holdings in shares of Cabot by 1.1% in the first quarter. State Street Corp now owns 1,477,413 shares of the specialty chemicals company’s stock valued at $38,590,000 after purchasing an additional 16,597 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Cabot by 14.0% during the first quarter. AQR Capital Management LLC now owns 971,853 shares of the specialty chemicals company’s stock valued at $25,385,000 after purchasing an additional 119,444 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Cabot by 4.0% during the first quarter. Geode Capital Management LLC now owns 661,614 shares of the specialty chemicals company’s stock worth $17,280,000 after purchasing an additional 25,580 shares during the last quarter. 87.27% of the stock is currently owned by institutional investors and hedge funds.
CBT has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut shares of Cabot from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $33.00 to $38.00 in a research report on Monday, July 27th. They noted that the move was a valuation call. Barclays boosted their price objective on Cabot from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, September 3rd. Zacks Investment Research lowered Cabot from a “hold” rating to a “sell” rating and set a $40.00 target price for the company. in a research report on Wednesday, July 29th. Finally, ValuEngine raised shares of Cabot from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $40.86.
NYSE CBT opened at $41.09 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.99 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.32 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 7.70 and a beta of 1.69. Cabot Co. has a 52 week low of $20.00 and a 52 week high of $50.58. The firm’s 50-day simple moving average is $38.25 and its two-hundred day simple moving average is $35.87.
Cabot (NYSE:CBT) last posted its quarterly earnings results on Thursday, August 6th. The specialty chemicals company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.08). The business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $525.22 million. Cabot had a net margin of 2.41% and a return on equity of 12.99%. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same period last year, the firm earned $1.00 EPS. As a group, equities research analysts anticipate that Cabot Co. will post 1.89 EPS for the current year.
Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.
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