New York State Teachers Retirement System Raises Position in Cabot Co. (NYSE:CBT)

New York State Teachers Retirement System increased its position in shares of Cabot Co. (NYSE:CBT) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,596 shares of the specialty chemicals company’s stock after purchasing an additional 4,104 shares during the period. New York State Teachers Retirement System’s holdings in Cabot were worth $6,980,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in shares of Cabot by 176.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 264 shares during the period. Milestone Investment Advisors LLC acquired a new stake in Cabot in the third quarter valued at $79,000. Ronald Blue Trust Inc. boosted its position in shares of Cabot by 460.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,895 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 1,557 shares in the last quarter. State of Wyoming grew its stake in shares of Cabot by 91.2% during the 2nd quarter. State of Wyoming now owns 2,199 shares of the specialty chemicals company’s stock worth $147,000 after purchasing an additional 1,049 shares during the period. Finally, NBC Securities Inc. purchased a new position in shares of Cabot in the 3rd quarter valued at about $162,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Insider Buying and Selling

In other Cabot news, EVP Jeff Ji Zhu sold 55,233 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 97,201 shares in the company, valued at approximately $7,767,331.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.07% of the stock is currently owned by company insiders.

Cabot Stock Down 2.2 %

CBT stock opened at $93.26 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30. The company’s 50 day simple moving average is $86.81 and its 200-day simple moving average is $78.83. Cabot Co. has a 12 month low of $63.73 and a 12 month high of $98.34. The firm has a market capitalization of $5.17 billion, a PE ratio of 12.11, a P/E/G ratio of 1.02 and a beta of 1.28.

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

Analyst Ratings Changes

A number of research firms recently commented on CBT. Mizuho initiated coverage on shares of Cabot in a report on Wednesday, March 27th. They set a “buy” rating and a $104.00 price objective on the stock. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Finally, UBS Group downgraded 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.67.

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.