Handelsbanken Fonder AB Has $777,000 Holdings in Cabot Co. (NYSE:CBT)

Handelsbanken Fonder AB increased its holdings in Cabot Co. (NYSE:CBT) by 97.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,309 shares of the specialty chemicals company’s stock after purchasing an additional 4,600 shares during the period. Handelsbanken Fonder AB’s holdings in Cabot were worth $777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CBT. Envestnet Asset Management Inc. increased its stake in shares of Cabot by 92.7% in the third quarter. Envestnet Asset Management Inc. now owns 288,216 shares of the specialty chemicals company’s stock valued at $19,965,000 after buying an additional 138,663 shares during the period. AQR Capital Management LLC increased its position in Cabot by 350.6% during the 3rd quarter. AQR Capital Management LLC now owns 176,452 shares of the specialty chemicals company’s stock valued at $12,223,000 after purchasing an additional 137,294 shares during the period. Assenagon Asset Management S.A. raised its holdings in Cabot by 176.4% during 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 during the last quarter. Vontobel Holding Ltd. bought a new position in Cabot during the 4th quarter worth approximately $6,248,000. Finally, Victory Capital Management Inc. lifted its position in shares of 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 during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Cabot Trading Down 0.1 %

NYSE:CBT opened at $93.48 on Tuesday. Cabot Co. has a 12 month low of $63.73 and a 12 month high of $98.34. The company has a current ratio of 2.04, a quick ratio of 1.30 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.99 and a beta of 1.28. The firm has a fifty day simple moving average of $89.70 and a two-hundred day simple moving average of $80.85.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CBT shares. UBS Group cut shares of Cabot from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Mizuho initiated 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. Finally, Deutsche Bank Aktiengesellschaft cut Cabot from a “buy” rating to a “hold” rating and raised their target price for the stock from $88.00 to $95.00 in a research note on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.17.

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.