GAMMA Investing LLC Takes $44,000 Position in Cabot Co. (NYSE:CBT)

GAMMA Investing LLC purchased a new position in shares of Cabot Co. (NYSE:CBT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 532 shares of the specialty chemicals company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CBT. Raymond James & Associates increased its position in Cabot by 5.0% in the 3rd quarter. Raymond James & Associates now owns 41,878 shares of the specialty chemicals company’s stock valued at $2,901,000 after acquiring an additional 1,986 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cabot by 18.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,476 shares of the specialty chemicals company’s stock valued at $795,000 after purchasing an additional 1,819 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Cabot by 17.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 175,336 shares of the specialty chemicals company’s stock worth $12,146,000 after purchasing an additional 26,052 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Cabot during the 3rd quarter worth about $248,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Cabot by 1,416.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,814 shares of the specialty chemicals company’s stock valued at $3,589,000 after buying an additional 48,397 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Stock Down 0.1 %

CBT stock opened at $94.10 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 stock’s 50 day simple moving average is $90.34 and its 200 day simple moving average is $81.17. The company has a market cap of $5.22 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 0.97 and a beta of 1.27.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Cabot news, EVP Jeff Ji Zhu sold 55,233 shares of Cabot stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. 3.07% of the stock is currently owned by company insiders.

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.