Envestnet Asset Management Inc. Increases Holdings in Cabot Co. (NYSE:CBT)

Envestnet Asset Management Inc. boosted its holdings in shares of Cabot Co. (NYSE:CBTGet Rating) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,415 shares of the specialty chemicals company’s stock after purchasing an additional 5,760 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of Cabot worth $5,512,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Cabot by 11.0% during the 1st quarter. BlackRock Inc. now owns 6,931,530 shares of the specialty chemicals company’s stock worth $474,186,000 after acquiring an additional 686,769 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cabot by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 6,120,453 shares of the specialty chemicals company’s stock worth $418,701,000 after acquiring an additional 374,834 shares during the period. Wellington Management Group LLP grew its holdings in shares of Cabot by 11.1% during the 1st quarter. Wellington Management Group LLP now owns 3,541,491 shares of the specialty chemicals company’s stock worth $242,273,000 after acquiring an additional 353,154 shares during the period. State Street Corp grew its holdings in shares of Cabot by 5.2% during the 1st quarter. State Street Corp now owns 1,886,076 shares of the specialty chemicals company’s stock worth $129,026,000 after acquiring an additional 93,588 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cabot by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,767,147 shares of the specialty chemicals company’s stock worth $120,898,000 after acquiring an additional 22,089 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Cabot in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Cabot has an average rating of “Moderate Buy” and an average target price of $79.25.

Cabot Stock Performance

CBT stock opened at $73.84 on Friday. The stock has a market capitalization of $4.16 billion, a PE ratio of 20.51 and a beta of 1.39. Cabot Co. has a 12-month low of $50.96 and a 12-month high of $78.62. The company has a current ratio of 1.65, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06. The stock’s 50 day simple moving average is $68.99 and its 200 day simple moving average is $69.52.

Cabot Company Profile

(Get Rating)

Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons 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.

Further Reading

Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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