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

Texas Permanent School Fund lowered its stake in shares of Cabot Corp (NYSE:CBT) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,329 shares of the specialty chemicals company’s stock after selling 351 shares during the quarter. Texas Permanent School Fund’s holdings in Cabot were worth $1,782,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurion Capital Management LP raised its holdings in shares of Cabot by 60.5% in the 2nd quarter. Laurion Capital Management LP now owns 16,116 shares of the specialty chemicals company’s stock worth $769,000 after acquiring an additional 6,074 shares during the last quarter. Coastal Investment Advisors Inc. acquired a new stake in shares of Cabot in the 2nd quarter worth about $57,000. Nisa Investment Advisors LLC raised its holdings in shares of Cabot by 6.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,900 shares of the specialty chemicals company’s stock worth $403,000 after acquiring an additional 500 shares during the last quarter. Machina Capital S.A.S. raised its holdings in shares of Cabot by 409.2% in the 2nd quarter. Machina Capital S.A.S. now owns 998 shares of the specialty chemicals company’s stock worth $48,000 after acquiring an additional 802 shares during the last quarter. Finally, Balter Liquid Alternatives LLC raised its holdings in shares of Cabot by 78.9% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 54,080 shares of the specialty chemicals company’s stock worth $2,580,000 after acquiring an additional 23,859 shares during the last quarter. Hedge funds and other institutional investors own 86.10% of the company’s stock.

Shares of CBT stock opened at $50.23 on Friday. Cabot Corp has a 52-week low of $37.11 and a 52-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. The company has a 50-day simple moving average of $44.94 and a two-hundred day simple moving average of $44.05. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.30 and a beta of 1.52.

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

CBT has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Cabot from a “hold” rating to a “sell” rating and set a $47.00 target price on the stock. in a report on Friday, October 25th. Robert W. Baird lowered shares of Cabot from an “outperform” rating to a “neutral” rating and set a $45.00 target price on the stock. in a report on Wednesday, October 16th. UBS Group initiated coverage on shares of Cabot in a report on Thursday, October 10th. They issued a “neutral” rating and a $45.00 target price on the stock. Northcoast Research set a $45.00 target price on shares of Cabot and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Loop Capital lowered shares of Cabot from a “buy” rating to a “hold” rating and lowered their target price for the stock from $69.00 to $41.00 in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.67.

Cabot Profile

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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