Ballentine Partners LLC Invests $200,000 in Cabot Co. (NYSE:CBT)

Ballentine Partners LLC acquired a new position in Cabot Co. (NYSE:CBT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,791 shares of the specialty chemicals company’s stock, valued at approximately $200,000.

Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in shares of Cabot during the 3rd quarter valued at approximately $25,000. CWM LLC grew its stake in shares of Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Cabot by 53.9% during the third quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after acquiring an additional 119 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Cabot in the second quarter valued at $49,000. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CBT has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group dropped their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $101.75.

Cabot Stock Performance

Shares of CBT stock opened at $108.87 on Wednesday. The company’s fifty day simple moving average is $107.79 and its 200-day simple moving average is $100.52. Cabot Co. has a 52 week low of $65.38 and a 52 week high of $117.14. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.97 billion, a PE ratio of 12.95, a P/E/G ratio of 0.93 and a beta of 1.19.

Cabot (NYSE:CBT) last released its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.20. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.42 EPS. As a group, equities research analysts anticipate that Cabot Co. will post 7.07 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the sale, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Erica Mclaughlin sold 16,390 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $104.24, for a total value of $1,708,493.60. Following the completion of the transaction, the chief financial officer now owns 59,814 shares in the company, valued at approximately $6,235,011.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the completion of the sale, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is owned by corporate insiders.

Cabot Profile

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.