Algert Global LLC increased its position in shares of Cabot Corp. (NYSE:CBT) by 54.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,730 shares of the company’s stock after buying an additional 6,595 shares during the period. Algert Global LLC’s holdings in Cabot Corp. were worth $982,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Cabot Corp. by 14.5% in the second quarter. PNC Financial Services Group Inc. now owns 2,636 shares of the company’s stock worth $121,000 after buying an additional 333 shares during the last quarter. Citigroup Inc. raised its position in Cabot Corp. by 45.9% in the second quarter. Citigroup Inc. now owns 2,707 shares of the company’s stock worth $123,000 after buying an additional 852 shares during the last quarter. Acrospire Investment Management LLC raised its position in Cabot Corp. by 93.3% in the second quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock worth $132,000 after buying an additional 1,400 shares during the last quarter. Bank of Montreal Can purchased a new position in Cabot Corp. during the second quarter worth about $148,000. Finally, LS Investment Advisors LLC raised its position in Cabot Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 3,746 shares of the company’s stock worth $171,000 after buying an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 85.62% of the company’s stock.
Cabot Corp. (NYSE:CBT) opened at 50.75 on Friday. Cabot Corp. has a 1-year low of $35.46 and a 1-year high of $53.88. The stock has a market cap of $3.17 billion, a PE ratio of 23.30 and a beta of 1.39. The firm’s 50-day moving average price is $51.06 and its 200 day moving average price is $48.31.
Cabot Corp. (NYSE:CBT) last announced its earnings results on Wednesday, July 27th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $621 million for the quarter, compared to analysts’ expectations of $611.73 million. Cabot Corp. had a return on equity of 13.91% and a net margin of 5.68%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities research analysts expect that Cabot Corp. will post $3.08 EPS for the current year.
CBT has been the topic of a number of research analyst reports. Zacks Investment Research raised Cabot Corp. from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Wednesday. Jefferies Group reissued a “buy” rating and issued a $60.00 price target on shares of Cabot Corp. in a research note on Tuesday, September 13th. Deutsche Bank AG lifted their price target on Cabot Corp. from $48.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. TheStreet raised Cabot Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, July 27th. Finally, 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 research note on Tuesday, August 2nd. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Cabot Corp. currently has a consensus rating of “Buy” and an average target price of $53.67.
In other news, SVP Brian A. Berube sold 16,489 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $49.90, for a total transaction of $822,801.10. Following the transaction, the senior vice president now owns 42,622 shares of the company’s stock, valued at $2,126,837.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James Patrick Kelly sold 2,500 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $50.95, for a total value of $127,375.00. Following the transaction, 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. 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.
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