New York State Teachers Retirement System Has $8.72 Million Stock Position in Cabot Co. (NYSE:CBT)

New York State Teachers Retirement System lowered its holdings in Cabot Co. (NYSE:CBT) by 2.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 78,057 shares of the specialty chemicals company’s stock after selling 2,338 shares during the quarter. New York State Teachers Retirement System’s holdings in Cabot were worth $8,724,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new stake in Cabot in the 3rd quarter valued at approximately $25,000. CWM LLC grew its holdings in Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 157 shares during the last quarter. UMB Bank n.a. grew its holdings in Cabot by 53.9% in the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Cabot by 33.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock valued at $48,000 after buying an additional 119 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Cabot in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Price Performance

Shares of NYSE:CBT opened at $109.02 on Monday. 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 firm has a market capitalization of $5.98 billion, a PE ratio of 12.96, a PEG ratio of 0.90 and a beta of 1.20. Cabot Co. has a 1-year low of $65.93 and a 1-year high of $117.14. The business’s 50 day moving average is $108.20 and its 200-day moving average is $100.81.

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

Insider Buying and Selling

In related news, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the transaction, the chief financial officer now owns 59,814 shares in the company, valued at approximately $5,968,839.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction on Monday, August 26th. The shares were sold at an average price of $106.19, for a total value of $127,534.19. Following the completion of the transaction, the executive vice president now owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,939 shares of company stock worth $7,308,812 in the last 90 days. 3.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CBT has been the topic of several recent research reports. UBS Group decreased their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.75.

Cabot Company 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.