Allspring Global Investments Holdings LLC Buys 18,005 Shares of Cabot Co. (NYSE:CBT)

Allspring Global Investments Holdings LLC grew its stake in shares of Cabot Co. (NYSE:CBT) by 34.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 69,819 shares of the specialty chemicals company’s stock after purchasing an additional 18,005 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Cabot worth $5,830,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC bought a new stake in Cabot during the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust grew its holdings in shares of Cabot by 176.0% in the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 264 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in shares of Cabot in the third quarter valued at approximately $79,000. Ronald Blue Trust Inc. grew its holdings in shares of Cabot by 460.7% in the third quarter. Ronald Blue Trust Inc. now owns 1,895 shares of the specialty chemicals company’s stock valued at $127,000 after acquiring an additional 1,557 shares in the last quarter. Finally, State of Wyoming grew its holdings in shares of Cabot by 91.2% in the second quarter. State of Wyoming now owns 2,199 shares of the specialty chemicals company’s stock valued at $147,000 after acquiring an additional 1,049 shares in the last quarter. 93.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CBT has been the subject of several recent analyst reports. UBS Group lowered Cabot from a “buy” rating to a “neutral” rating and reduced their target price for the company from $90.00 to $87.00 in a report on Monday, January 8th. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft downgraded Cabot from a “buy” rating to a “hold” rating and upped their price objective for the company from $88.00 to $95.00 in a research note on Thursday. Finally, Mizuho began coverage on Cabot in a research note on Wednesday, March 27th. They issued a “buy” rating and a $104.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Transactions at Cabot

In other news, EVP Jeff Ji Zhu sold 55,233 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 97,201 shares of the company’s stock, valued at $7,767,331.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.07% of the company’s stock.

Cabot Trading Down 1.4 %

NYSE:CBT opened at $90.66 on Friday. The company has a market cap of $5.03 billion, a P/E ratio of 11.77, a P/E/G ratio of 0.98 and a beta of 1.28. The stock’s fifty day moving average price is $88.06 and its two-hundred day moving average price is $79.48. Cabot Co. has a 1 year low of $63.73 and a 1 year 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.

Cabot (NYSE:CBT) last posted its earnings results on Monday, February 5th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $958.00 million for the quarter, compared to the consensus estimate of $927.28 million. Cabot had a return on equity of 25.52% and a net margin of 11.24%. As a group, analysts expect 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.