Pacer Advisors Inc. purchased a new position in shares of Cabot Co. (NYSE:CBT – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,782 shares of the specialty chemicals company’s stock, valued at approximately $721,000.
Several other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC raised its stake in shares of Cabot by 264.8% during the fourth quarter. SG Americas Securities LLC now owns 37,173 shares of the specialty chemicals company’s stock worth $2,485,000 after acquiring an additional 26,983 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Cabot by 15.3% in the fourth quarter. ProShare Advisors LLC now owns 10,622 shares of the specialty chemicals company’s stock worth $710,000 after buying an additional 1,411 shares during the period. Ironwood Investment Counsel LLC purchased a new position in shares of Cabot in the fourth quarter worth $201,000. Bank of Montreal Can increased its stake in shares of Cabot by 15.3% in the fourth quarter. Bank of Montreal Can now owns 11,643 shares of the specialty chemicals company’s stock worth $847,000 after buying an additional 1,543 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Cabot by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,997 shares of the specialty chemicals company’s stock worth $535,000 after buying an additional 1,112 shares during the period. 94.21% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of Cabot in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Loop Capital lifted their target price on shares of Cabot from $98.00 to $113.00 and gave the stock a “buy” rating in a research note on Monday, February 13th. Credit Suisse Group initiated coverage on shares of Cabot in a research note on Monday, March 13th. They issued an “outperform” rating and a $94.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Cabot from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Monday, February 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $96.00.
Cabot Stock Down 0.7 %
Cabot (NYSE:CBT – Get Rating) last announced its earnings results on Friday, February 10th. The specialty chemicals company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. Cabot had a net margin of 8.15% and a return on equity of 32.03%. The firm had revenue of $965.00 million for the quarter, compared to analysts’ expectations of $955.24 million. During the same quarter in the previous year, the business posted $1.29 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. Research analysts anticipate that Cabot Co. will post 6.35 EPS for the current year.
About Cabot
Cabot Corp. is a global specialty chemicals and performance materials company. Its products are rubber and specialty grade carbon blacks, specialty compounds, fumed metal oxides, activated carbons, inkjet colorants, and aerogel. The company operates through the following segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions.
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