First Trust Direct Indexing L.P. Invests $203,000 in Cabot Co. (NYSE:CBT)

First Trust Direct Indexing L.P. purchased a new position in Cabot Co. (NYSE:CBT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,818 shares of the specialty chemicals company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently made changes to their positions in CBT. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cabot by 12.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,924 shares of the specialty chemicals company’s stock worth $546,000 after acquiring an additional 656 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Cabot by 28.8% in the first quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock worth $4,727,000 after acquiring an additional 11,471 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Cabot by 125.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock worth $1,006,000 after acquiring an additional 6,070 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Cabot by 4.1% in the first quarter. Texas Permanent School Fund Corp now owns 48,513 shares of the specialty chemicals company’s stock worth $4,473,000 after acquiring an additional 1,923 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Cabot by 57.3% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,557 shares of the specialty chemicals company’s stock worth $697,000 after buying an additional 2,754 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Performance

Shares of Cabot stock opened at $108.88 on Wednesday. Cabot Co. has a 52 week low of $66.02 and a 52 week high of $117.14. The business’s fifty day simple moving average is $108.30 and its 200-day simple moving average is $101.01. The firm has a market cap of $5.97 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.91 and a beta of 1.20. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72.

Cabot (NYSE:CBT) last announced its quarterly earnings results on Monday, November 4th. The specialty chemicals company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.01). Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $1.65 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts forecast that Cabot Co. will post 7.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CBT has been the topic of a number of recent research reports. UBS Group lowered their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Mizuho boosted their price objective on Cabot from $103.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Three investment 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, Cabot presently has a consensus rating of “Hold” and a consensus target price of $105.00.

Insider Activity

In related news, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Hobart Kalkstein sold 5,457 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the business’s 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 sale, the executive vice president now owns 96,000 shares in the company, valued at $10,194,240. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,665 shares of company stock valued at $4,986,299 in the last quarter. Insiders own 3.07% of the company’s stock.

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.