Gallacher Capital Management LLC Makes New Investment in Cabot Co. (NYSE:CBT)

Gallacher Capital Management LLC purchased a new position in shares of Cabot Co. (NYSE:CBT) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,162 shares of the specialty chemicals company’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Cabot by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 6,361,129 shares of the specialty chemicals company’s stock worth $440,635,000 after acquiring an additional 24,961 shares in the last quarter. Wellington Management Group LLP raised its holdings in Cabot by 0.4% during the 3rd quarter. Wellington Management Group LLP now owns 4,908,495 shares of the specialty chemicals company’s stock valued at $340,011,000 after acquiring an additional 20,589 shares during the period. Earnest Partners LLC grew its position in shares of Cabot by 2.1% in the third quarter. Earnest Partners LLC now owns 3,167,091 shares of the specialty chemicals company’s stock valued at $219,384,000 after purchasing an additional 66,422 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cabot by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 668,796 shares of the specialty chemicals company’s stock valued at $46,327,000 after buying an additional 23,774 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Cabot by 12.7% in the 3rd quarter. Sei Investments Co. now owns 607,032 shares of the specialty chemicals company’s stock valued at $42,049,000 after purchasing an additional 68,535 shares during the period. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Price Performance

Shares of CBT stock traded up $1.83 during mid-day trading on Monday, hitting $95.94. The company had a trading volume of 454,592 shares, compared to its average volume of 303,187. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30. The stock’s 50 day moving average price is $90.56 and its 200-day moving average price is $81.49. Cabot Co. has a 52-week low of $63.73 and a 52-week high of $98.34. The company has a market capitalization of $5.32 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.00 and a beta of 1.27.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, February 5th. The specialty chemicals company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.49 by $0.07. The business had revenue of $958.00 million during the quarter, compared to analyst estimates of $927.28 million. Cabot had a net margin of 11.24% and a return on equity of 25.52%. Equities research analysts forecast that Cabot Co. will post 6.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CBT shares. Mizuho initiated coverage on shares of Cabot in a research report on Wednesday, March 27th. They set a “buy” rating and a $104.00 target price for the company. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft lowered Cabot from a “buy” rating to a “hold” rating and upped their target price for the stock from $88.00 to $95.00 in a research note on Thursday, April 18th. Finally, UBS Group cut shares of Cabot from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $90.00 to $87.00 in a research report on Monday, January 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.17.

Insider Buying and Selling at Cabot

In other Cabot news, EVP Jeff Ji Zhu sold 55,233 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 97,201 shares of the company’s stock, valued at approximately $7,767,331.91. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.07% of the company’s stock.

About Cabot

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.