Bank of Montreal Can Grows Stock Position in Cabot Co. (NYSE:CBT)

Bank of Montreal Can boosted its stake in shares of Cabot Co. (NYSE:CBT) by 6.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,445 shares of the specialty chemicals company’s stock after acquiring an additional 622 shares during the quarter. Bank of Montreal Can’s holdings in Cabot were worth $954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in shares of Cabot by 7.8% during the fourth quarter. Russell Investments Group Ltd. now owns 33,459 shares of the specialty chemicals company’s stock valued at $3,055,000 after acquiring an additional 2,413 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Cabot by 2.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 335,261 shares of the specialty chemicals company’s stock valued at $30,613,000 after purchasing an additional 8,044 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Cabot by 153.4% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 23,870 shares of the specialty chemicals company’s stock worth $2,179,000 after buying an additional 14,449 shares during the period. Trexquant Investment LP grew its position in shares of Cabot by 99.0% in the 4th quarter. Trexquant Investment LP now owns 109,423 shares of the specialty chemicals company’s stock worth $9,991,000 after buying an additional 54,429 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Cabot by 13.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 28,091 shares of the specialty chemicals company’s stock valued at $2,565,000 after buying an additional 3,235 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Cabot Stock Performance

Shares of Cabot stock opened at $78.40 on Friday. Cabot Co. has a 12 month low of $73.63 and a 12 month high of $117.46. The firm has a market capitalization of $4.25 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.74 and a beta of 1.04. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $82.71 and a two-hundred day simple moving average of $94.79.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. On average, equities analysts forecast that Cabot Co. will post 7.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CBT. UBS Group dropped their price target on Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, February 21st. StockNews.com upgraded shares of Cabot from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Mizuho lowered their price objective on shares of Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th.

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.