State of Alaska Department of Revenue Sells 685 Shares of Cabot Co. (NYSE:CBT)

State of Alaska Department of Revenue trimmed its position in shares of Cabot Co. (NYSE:CBT) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,966 shares of the specialty chemicals company’s stock after selling 685 shares during the quarter. State of Alaska Department of Revenue’s holdings in Cabot were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Cabot by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after purchasing an additional 20,589 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Cabot by 34.1% in the third quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the specialty chemicals company’s stock worth $256,000 after buying an additional 939 shares during the period. Gotham Asset Management LLC lifted its stake in shares of Cabot by 603.7% during the 3rd quarter. Gotham Asset Management LLC now owns 23,460 shares of the specialty chemicals company’s stock worth $1,625,000 after acquiring an additional 20,126 shares during the last quarter. Natixis Advisors L.P. grew its position in Cabot by 41.0% in the 3rd quarter. Natixis Advisors L.P. now owns 62,054 shares of the specialty chemicals company’s stock valued at $4,298,000 after acquiring an additional 18,040 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 137,294 shares during the last quarter. Institutional investors own 93.18% of the company’s stock.

Insider Transactions at Cabot

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 97,201 shares of the company’s stock, valued at approximately $7,767,331.91. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Cabot Stock Down 2.2 %

Shares of CBT opened at $93.26 on Friday. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.02 and a beta of 1.28. Cabot Co. has a 52 week low of $63.73 and a 52 week high of $98.34. The stock’s 50-day moving average price is $86.81 and its 200-day moving average price is $78.83. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.74.

Cabot (NYSE:CBT) last posted its earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share for the quarter, beating 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 firm had revenue of $958.00 million during the quarter, compared to analyst estimates of $927.28 million. On average, sell-side analysts predict that Cabot Co. will post 6.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group downgraded Cabot from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $90.00 to $87.00 in a report on Monday, January 8th. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Mizuho started coverage on shares of Cabot in a research note on Wednesday, March 27th. They issued a “buy” rating and a $104.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cabot has a consensus rating of “Moderate Buy” and an average 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.