2,870 Shares in Cabot Co. (NYSE:CBT) Purchased by SVB Wealth LLC

SVB Wealth LLC purchased a new position in Cabot Co. (NYSE:CBT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,870 shares of the specialty chemicals company’s stock, valued at approximately $240,000.

A number of other hedge funds also recently bought and sold shares of CBT. Envestnet Asset Management Inc. boosted its stake in Cabot by 92.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 288,216 shares of the specialty chemicals company’s stock worth $19,965,000 after purchasing an additional 138,663 shares in the last quarter. AQR Capital Management LLC boosted its stake in Cabot by 350.6% in the 3rd 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in Cabot by 176.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 124,422 shares of the specialty chemicals company’s stock worth $10,389,000 after purchasing an additional 79,410 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Cabot in the 4th quarter worth about $6,248,000. Finally, Victory Capital Management Inc. boosted its stake in Cabot by 541.7% in the 3rd quarter. Victory Capital Management Inc. now owns 82,090 shares of the specialty chemicals company’s stock worth $5,686,000 after purchasing an additional 69,298 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CBT. StockNews.com lowered Cabot from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 14th. Mizuho began coverage on Cabot in a research report on Wednesday, March 27th. They issued a “buy” rating and a $104.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and boosted their target price for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. Finally, UBS Group lowered Cabot from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.17.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the stock in a transaction that occurred 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 directly owns 97,201 shares of the company’s stock, valued at approximately $7,767,331.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.07% of the company’s stock.

Cabot Price Performance

NYSE CBT opened at $92.72 on Tuesday. Cabot Co. has a 52 week low of $63.73 and a 52 week high of $98.34. The firm has a market capitalization of $5.14 billion, a P/E ratio of 12.04, a PEG ratio of 0.97 and a beta of 1.28. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $88.53 and a 200-day moving average price of $80.00.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 EPS 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. Equities research analysts anticipate that Cabot Co. will post 6.58 earnings per share for the current year.

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.