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

Handelsbanken Fonder AB raised its stake in shares of Cabot Co. (NYSE:CBT) by 97.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,309 shares of the specialty chemicals company’s stock after buying an additional 4,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cabot were worth $777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vontobel Holding Ltd. acquired a new position in Cabot during the fourth quarter valued at approximately $6,248,000. Wellington Management Group LLP increased its position in shares of Cabot by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after buying an additional 20,589 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in Cabot during the 4th quarter worth $1,294,000. PNC Financial Services Group Inc. lifted its holdings in Cabot by 34.1% during the third quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the specialty chemicals company’s stock worth $256,000 after acquiring an additional 939 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in Cabot by 603.7% in the third quarter. Gotham Asset Management LLC now owns 23,460 shares of the specialty chemicals company’s stock valued at $1,625,000 after acquiring an additional 20,126 shares during the period. 93.18% of the stock is owned by institutional investors.

Cabot Trading Down 0.1 %

NYSE:CBT opened at $93.48 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 0.74. Cabot Co. has a twelve month low of $63.73 and a twelve month high of $98.34. The company has a market cap of $5.18 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.99 and a beta of 1.28. The business has a 50 day moving average price of $89.70 and a two-hundred day moving average price of $80.85.

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

Insider Activity at Cabot

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the 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 transaction, the executive vice president now directly owns 97,201 shares of the company’s stock, valued at $7,767,331.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.07% of the stock is owned by company insiders.

Analyst Ratings Changes

CBT has been the topic of a number of research analyst reports. Mizuho began coverage on Cabot in a research report on Wednesday, March 27th. They set a “buy” rating and a $104.00 price target on the stock. StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. UBS Group lowered shares of Cabot from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $90.00 to $87.00 in a report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut shares of 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 report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.17.

Cabot 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.