CANADA LIFE ASSURANCE Co Sells 2,669 Shares of Cabot Co. (NYSE:CBT)

CANADA LIFE ASSURANCE Co reduced its stake in shares of Cabot Co. (NYSE:CBT) by 6.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,387 shares of the specialty chemicals company’s stock after selling 2,669 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Cabot worth $3,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CBT. R Squared Ltd bought a new position in shares of Cabot during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Cabot by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 808 shares of the specialty chemicals company’s stock worth $74,000 after acquiring an additional 219 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 130 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Cabot by 1,685.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,678 shares of the specialty chemicals company’s stock worth $153,000 after purchasing an additional 1,584 shares during the last quarter. Finally, KBC Group NV grew its stake 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

Several research firms recently issued reports on CBT. StockNews.com upgraded Cabot from a “hold” rating to a “buy” rating in a research report on Thursday, April 17th. JPMorgan Chase & Co. cut their price target 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. UBS Group cut their target price on Cabot from $93.00 to $83.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Mizuho cut 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.

Cabot Stock Performance

Cabot stock opened at $79.27 on Friday. Cabot Co. has a fifty-two week low of $73.63 and a fifty-two week high of $117.46. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 0.74 and a beta of 1.04. The stock’s 50 day simple moving average is $81.93 and its two-hundred day simple moving average is $93.81. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.29 and a current ratio of 2.00.

Cabot (NYSE:CBT) last announced its earnings results on Monday, February 3rd. The specialty chemicals company reported $1.76 EPS 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%. As a group, analysts expect that Cabot Co. will post 7.57 earnings per share for the current fiscal 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.