1ST Source Bank continued to hold its position in shares of Cabot Corp. (NYSE:CBT) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,110 shares of the company’s stock at the end of the second quarter. 1ST Source Bank’s holdings in Cabot Corp. were worth $781,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of CBT. Aperio Group LLC increased its position in shares of Cabot Corp. by 16.8% in the first quarter. Aperio Group LLC now owns 24,345 shares of the company’s stock worth $1,177,000 after buying an additional 3,499 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Cabot Corp. by 6.3% in the first quarter. TIAA CREF Investment Management LLC now owns 346,220 shares of the company’s stock worth $16,733,000 after buying an additional 20,618 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Cabot Corp. by 12.9% in the first quarter. Teachers Advisors Inc. now owns 321,382 shares of the company’s stock worth $15,532,000 after buying an additional 36,828 shares in the last quarter. BlackRock Group LTD boosted its stake in Cabot Corp. by 7.7% in the first quarter. BlackRock Group LTD now owns 52,629 shares of the company’s stock worth $2,543,000 after buying an additional 3,748 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Cabot Corp. by 61.8% in the first quarter. JPMorgan Chase & Co. now owns 776,310 shares of the company’s stock worth $37,519,000 after buying an additional 296,428 shares in the last quarter. 85.62% of the stock is owned by institutional investors and hedge funds.
Shares of Cabot Corp. (NYSE:CBT) traded up 0.89% on Friday, hitting $50.85. The company’s stock had a trading volume of 113,558 shares. Cabot Corp. has a 52 week low of $35.46 and a 52 week high of $53.88. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 23.35 and a beta of 1.39. The stock’s 50 day moving average is $51.04 and its 200-day moving average is $48.30.
Cabot Corp. (NYSE:CBT) last announced its earnings results on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The firm had revenue of $621 million for the quarter, compared to analysts’ expectations of $611.73 million. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cabot Corp. will post $3.08 earnings per share for the current year.
A number of research firms recently weighed in on CBT. SunTrust Banks Inc. cut Cabot Corp. from a “buy” rating to a “neutral” rating and set a $51.00 price target on the stock. in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research upgraded Cabot Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. TheStreet upgraded Cabot Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, July 27th. Jefferies Group restated a “buy” rating and issued a $60.00 price target on shares of Cabot Corp. in a report on Tuesday, September 13th. Finally, Deutsche Bank AG upped their price target on Cabot Corp. from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $53.67.
In related news, Director Patrick M. Prevost sold 47,800 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $49.59, for a total transaction of $2,370,402.00. Following the sale, the director now owns 326,023 shares of the company’s stock, valued at $16,167,480.57. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP James Patrick Kelly sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $50.95, for a total value of $127,375.00. Following the sale, the vice president now directly owns 24,585 shares in the company, valued at approximately $1,252,605.75. The disclosure for this sale can be found here. Corporate insiders own 2.48% of the company’s stock.
Cabot Corp. Company Profile
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks, fumed metal oxides, activated carbon, inkjet colorants, aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials, Performance Chemicals, Purification Solutions and Specialty Fluids.
Want to see what other hedge funds are holding CBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cabot Corp. (NYSE:CBT).
Receive News & Ratings for Cabot Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cabot Corp. and related companies with MarketBeat.com's FREE daily email newsletter.