Cabot Co. (NYSE:CBT) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its holdings in shares of Cabot Co. (NYSE:CBT) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,590 shares of the specialty chemicals company’s stock after selling 150 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Cabot were worth $1,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Cabot during the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its stake in 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cabot by 10.7% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the specialty chemicals company’s stock worth $123,000 after buying an additional 130 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Cabot by 1,685.1% during the fourth 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 grew its holdings in shares of Cabot by 43.1% during the fourth quarter. KBC Group NV now owns 2,046 shares of the specialty chemicals company’s stock valued at $187,000 after buying an additional 616 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CBT. Mizuho reduced their target price on Cabot from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their target price on Cabot from $105.00 to $85.00 and set an “underweight” rating on the stock in a research report on Friday, February 21st. Finally, UBS Group reduced their price target on shares of Cabot from $93.00 to $83.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $93.25.

Cabot Stock Performance

Cabot stock opened at $78.41 on Thursday. The firm has a market cap of $4.25 billion, a PE ratio of 10.41, a P/E/G ratio of 0.74 and a beta of 1.04. Cabot Co. has a 12 month low of $73.63 and a 12 month high of $117.46. The stock’s 50 day simple moving average is $83.02 and its two-hundred day simple moving average is $95.35. The company has a current ratio of 2.00, a quick ratio of 1.29 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.74 by $0.02. Cabot had a net margin of 10.60% and a return on equity of 26.79%. Analysts anticipate that Cabot Co. will post 7.57 earnings per share for the current year.

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.