Cabot Corp (CBT) Position Reduced by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Cabot Corp (NYSE:CBT) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,320 shares of the specialty chemicals company’s stock after selling 911 shares during the period. Envestnet Asset Management Inc.’s holdings in Cabot were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc RI purchased a new position in Cabot in the fourth quarter valued at about $142,000. Quadrature Capital Ltd purchased a new position in Cabot in the fourth quarter valued at about $219,000. State of Alaska Department of Revenue purchased a new position in Cabot in the fourth quarter valued at about $221,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cabot by 48.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,663 shares of the specialty chemicals company’s stock valued at $226,000 after buying an additional 1,194 shares in the last quarter. Finally, Signition LP purchased a new position in Cabot in the fourth quarter valued at about $229,000. Hedge funds and other institutional investors own 87.18% of the company’s stock.

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Shares of CBT opened at $54.93 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.63 and a quick ratio of 1.02. Cabot Corp has a 1-year low of $50.21 and a 1-year high of $68.63. The company has a market cap of $3,404.96, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.36 and a beta of 1.40.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Tuesday, February 6th. The specialty chemicals company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.15. Cabot had a net margin of 2.30% and a return on equity of 15.01%. The business had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $653.54 million. During the same period last year, the company posted $0.84 EPS. The company’s revenue was up 17.8% on a year-over-year basis. sell-side analysts expect that Cabot Corp will post 4.06 earnings per share for the current fiscal year.

A number of brokerages have issued reports on CBT. ValuEngine cut shares of Cabot from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Robert W. Baird began coverage on shares of Cabot in a report on Tuesday, February 27th. They issued a “neutral” rating and a $72.00 target price for the company. Northcoast Research set a $75.00 target price on shares of Cabot and gave the company a “buy” rating in a report on Monday, February 12th. Zacks Investment Research raised shares of Cabot from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Friday, February 9th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $78.00 target price on shares of Cabot in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $72.29.

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Cabot Company Profile

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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