Leeward Investments LLC MA Trims Holdings in Cabot Co. (NYSE:CBT)

Leeward Investments LLC MA decreased its holdings in Cabot Co. (NYSE:CBT) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 115,935 shares of the specialty chemicals company’s stock after selling 896 shares during the period. Leeward Investments LLC MA’s holdings in Cabot were worth $9,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Envestnet Asset Management Inc. increased its stake in Cabot by 92.7% in the 3rd 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 stake in Cabot by 350.6% in 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 buying an additional 137,294 shares during the period. Assenagon Asset Management S.A. increased its stake in Cabot by 176.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 124,422 shares of the specialty chemicals company’s stock valued at $10,389,000 after buying an additional 79,410 shares during the period. Vontobel Holding Ltd. acquired a new position in Cabot in the 4th quarter valued at $6,248,000. Finally, Victory Capital Management Inc. increased its stake in Cabot by 541.7% in the 3rd quarter. Victory Capital Management Inc. now owns 82,090 shares of the specialty chemicals company’s stock valued at $5,686,000 after buying an additional 69,298 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Insider Activity at Cabot

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $7,767,331.91. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Cabot Price Performance

NYSE CBT traded up $0.53 during trading hours on Friday, reaching $93.56. The company’s stock had a trading volume of 173,821 shares, compared to its average volume of 301,688. The stock has a market cap of $5.19 billion, a PE ratio of 12.15, a PEG ratio of 0.99 and a beta of 1.28. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $98.34. The company’s 50-day moving average is $89.23 and its two-hundred day moving average is $80.35. 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 (NYSE:CBT) last issued its quarterly earnings data on Monday, February 5th. The specialty chemicals company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. The firm had revenue of $958.00 million for the quarter, compared to analysts’ expectations of $927.28 million. Cabot had a net margin of 11.24% and a return on equity of 25.52%. Analysts forecast that Cabot Co. will post 6.58 EPS for the current year.

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.