Texas Permanent School Fund Has $1.78 Million Stock Position in Cabot Corp (NYSE:CBT)

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Texas Permanent School Fund reduced its position in shares of Cabot Corp (NYSE:CBT) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,329 shares of the specialty chemicals company’s stock after selling 351 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Cabot worth $1,782,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. LSV Asset Management raised its position in Cabot by 0.9% during the second quarter. LSV Asset Management now owns 2,793,804 shares of the specialty chemicals company’s stock valued at $133,292,000 after purchasing an additional 26,137 shares in the last quarter. Earnest Partners LLC raised its position in Cabot by 57.9% during the second quarter. Earnest Partners LLC now owns 2,382,366 shares of the specialty chemicals company’s stock valued at $113,663,000 after purchasing an additional 873,528 shares in the last quarter. Bank of America Corp DE raised its position in Cabot by 17.6% during the second quarter. Bank of America Corp DE now owns 1,196,424 shares of the specialty chemicals company’s stock valued at $57,082,000 after purchasing an additional 178,945 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in Cabot by 17.4% during the second quarter. Deprince Race & Zollo Inc. now owns 839,165 shares of the specialty chemicals company’s stock valued at $40,037,000 after purchasing an additional 124,654 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Cabot by 2.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 473,237 shares of the specialty chemicals company’s stock valued at $22,579,000 after purchasing an additional 12,461 shares in the last quarter. Institutional investors and hedge funds own 86.10% of the company’s stock.

Several research analysts have commented on the stock. ValuEngine downgraded shares of Cabot from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. downgraded shares of Cabot from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $45.00 in a research report on Wednesday. They noted that the move was a valuation call. Northcoast Research set a $45.00 price objective on shares of Cabot and gave the company a “buy” rating in a research report on Wednesday, August 7th. Loop Capital cut shares of Cabot from a “buy” rating to a “hold” rating and decreased their target price for the stock from $69.00 to $41.00 in a research note on Monday, August 5th. Finally, Robert W. Baird cut shares of Cabot from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a research note on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.67.

NYSE CBT opened at $50.23 on Friday. The firm’s fifty day moving average price is $44.94 and its two-hundred day moving average price is $44.05. The stock has a market cap of $2.89 billion, a PE ratio of 12.85, a PEG ratio of 1.30 and a beta of 1.52. Cabot Corp has a fifty-two week low of $37.11 and a fifty-two week high of $50.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.27 and a current ratio of 2.02.

Cabot (NYSE:CBT) last posted its earnings results on Monday, November 4th. The specialty chemicals company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.06). The company had revenue of $827.00 million for the quarter, compared to the consensus estimate of $849.44 million. Cabot had a return on equity of 19.06% and a net margin of 4.70%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 EPS. As a group, sell-side analysts predict that Cabot Corp will post 3.85 earnings per share for the current fiscal year.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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