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

GAMMA Investing LLC purchased a new stake in Cabot Co. (NYSE:CBT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 532 shares of the specialty chemicals company’s stock, valued at approximately $44,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its position in shares of Cabot by 92.7% during the third quarter. Envestnet Asset Management Inc. now owns 288,216 shares of the specialty chemicals company’s stock worth $19,965,000 after purchasing an additional 138,663 shares in the last quarter. AQR Capital Management LLC boosted its position 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 last quarter. Assenagon Asset Management S.A. boosted its position 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 last quarter. Vontobel Holding Ltd. acquired a new stake in shares of Cabot in the 4th quarter valued at $6,248,000. Finally, Victory Capital Management Inc. raised its position in shares of Cabot by 541.7% during the third quarter. Victory Capital Management Inc. now owns 82,090 shares of the specialty chemicals company’s stock worth $5,686,000 after acquiring an additional 69,298 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CBT. Mizuho began coverage on Cabot in a report on Wednesday, March 27th. They issued a “buy” rating and a $104.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut shares of Cabot from a “buy” rating to a “hold” rating and lifted their price target for the stock from $88.00 to $95.00 in a research report on Thursday, April 18th. UBS Group lowered shares of Cabot from a “buy” rating to a “neutral” rating and cut their price objective for the company from $90.00 to $87.00 in a report on Monday, January 8th. Finally, StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $90.17.

Insider Transactions at Cabot

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the completion of the transaction, the executive vice president now directly owns 97,201 shares in the company, valued at approximately $7,767,331.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.07% of the stock is currently owned by insiders.

Cabot Stock Down 0.1 %

Cabot stock opened at $94.10 on Friday. Cabot Co. has a fifty-two week low of $63.73 and a fifty-two week high of $98.34. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.97 and a beta of 1.27. The company’s 50 day simple moving average is $90.34 and its 200 day simple moving average is $81.17.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.07. The company had revenue of $958.00 million during the quarter, compared to analyst estimates of $927.28 million. Cabot had a net margin of 11.24% and a return on equity of 25.52%. As a group, sell-side analysts anticipate that Cabot Co. will post 6.58 EPS for the current year.

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.