Nisa Investment Advisors LLC Lowers Holdings in Cabot Co. (NYSE:CBT)

Nisa Investment Advisors LLC cut its holdings in Cabot Co. (NYSE:CBT) by 29.6% during the fourth quarter, Holdings Channel reports. The firm owned 1,170 shares of the specialty chemicals company’s stock after selling 491 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cabot were worth $98,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Cabot by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock worth $340,011,000 after purchasing an additional 20,589 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Cabot by 34.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the specialty chemicals company’s stock worth $256,000 after purchasing an additional 939 shares in the last quarter. Gotham Asset Management LLC increased its stake in Cabot by 603.7% in 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. New York State Teachers Retirement System increased its stake in Cabot by 5.2% in the 4th quarter. New York State Teachers Retirement System now owns 83,596 shares of the specialty chemicals company’s stock worth $6,980,000 after acquiring an additional 4,104 shares during the last quarter. Finally, Natixis Advisors L.P. increased its stake 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 worth $4,298,000 after acquiring an additional 18,040 shares during the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total transaction of $4,413,669.03. Following the completion of the transaction, the executive vice president now owns 97,201 shares in the company, valued at approximately $7,767,331.91. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Cabot Stock Performance

NYSE CBT opened at $92.01 on Friday. The company has a market cap of $5.10 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.96 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04. The business’s 50 day moving average price is $88.31 and its 200-day moving average price is $79.74. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $98.34.

Cabot (NYSE:CBT) last released 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. The firm had revenue of $958.00 million for the quarter, compared to the consensus estimate of $927.28 million. Cabot had a return on equity of 25.52% and a net margin of 11.24%. Sell-side analysts predict that Cabot Co. will post 6.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CBT shares. Deutsche Bank Aktiengesellschaft downgraded Cabot from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $88.00 to $95.00 in a research note on Thursday. UBS Group downgraded Cabot from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $87.00 in a research note on Monday, January 8th. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, Mizuho started coverage on Cabot in a research note on Wednesday, March 27th. They issued a “buy” rating and a $104.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.17.

About Cabot

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.