Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Cabot Co. (NYSE:CBT)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cabot Co. (NYSE:CBT) by 8.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,471 shares of the specialty chemicals company’s stock after purchasing an additional 995 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cabot were worth $1,041,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. purchased a new position in shares of Cabot during the 4th quarter worth $6,248,000. Wellington Management Group LLP boosted its stake in shares of 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 worth $340,011,000 after acquiring an additional 20,589 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Cabot during the 4th quarter worth $1,294,000. PNC Financial Services Group Inc. boosted its stake in shares of Cabot by 34.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the specialty chemicals company’s stock worth $256,000 after acquiring an additional 939 shares during the last quarter. Finally, Gotham Asset Management LLC boosted 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. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Stock Up 0.6 %

CBT opened at $93.59 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.30 and a current ratio of 2.04. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $98.34. The firm’s fifty day moving average is $89.46 and its 200 day moving average is $80.61. The stock has a market cap of $5.19 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28.

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

Analyst Ratings Changes

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

Insider Buying and Selling at Cabot

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

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.