Federated Hermes Inc. Trims Stock Holdings in Cabot Co. (NYSE:CBT)

Federated Hermes Inc. reduced its stake in shares of Cabot Co. (NYSE:CBT) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,839 shares of the specialty chemicals company’s stock after selling 321 shares during the period. Federated Hermes Inc.’s holdings in Cabot were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. R Squared Ltd bought a new stake in Cabot during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in shares of Cabot by 37.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock valued at $74,000 after purchasing an additional 219 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cabot by 10.7% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock valued at $123,000 after buying an additional 130 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in Cabot by 1,685.1% in the 4th quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company’s stock worth $153,000 after buying an additional 1,584 shares during the period. Finally, KBC Group NV increased its stake in Cabot by 43.1% in the 4th quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company’s stock worth $187,000 after buying an additional 616 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors.

Cabot Stock Performance

NYSE CBT opened at $78.99 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.00 and a quick ratio of 1.29. Cabot Co. has a 1-year low of $73.63 and a 1-year high of $117.46. The business has a 50 day simple moving average of $83.36 and a two-hundred day simple moving average of $95.59. The stock has a market capitalization of $4.28 billion, a PE ratio of 10.49, a P/E/G ratio of 0.74 and a beta of 1.04.

Cabot (NYSE:CBT) last posted its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 earnings per share 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, research analysts predict that Cabot Co. will post 7.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on CBT shares. Mizuho lowered their price objective on Cabot from $122.00 to $110.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut Cabot from a “buy” rating to a “hold” rating in a report on Wednesday, April 9th. UBS Group cut their price objective on shares of Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $93.25.

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.