Cabot Co. (NYSE:CBT) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its holdings in shares of Cabot Co. (NYSE:CBT) by 44.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,624 shares of the specialty chemicals company’s stock after selling 6,139 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Cabot were worth $701,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of Cabot by 60.6% in the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 157 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Cabot by 33.4% in the second quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 119 shares during the period. 1620 Investment Advisors Inc. bought a new stake in Cabot in the second quarter valued at $49,000. Mather Group LLC. acquired a new position in shares of Cabot during the second quarter valued at $58,000. Finally, nVerses Capital LLC bought a new position in shares of Cabot during the second quarter worth about $64,000. Institutional investors own 93.18% of the company’s stock.

Insider Activity

In related news, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the transaction, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at $10,194,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the sale, the executive vice president now owns 61,688 shares in the company, valued at approximately $6,204,579.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeff Ji Zhu sold 1,201 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $106.19, for a total value of $127,534.19. Following the sale, the executive vice president now directly owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,939 shares of company stock worth $7,308,812 over the last 90 days. 3.07% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CBT. StockNews.com downgraded shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. UBS Group reduced their price objective on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. raised their target price on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Cabot Stock Performance

Shares of CBT opened at $112.43 on Friday. Cabot Co. has a 52-week low of $65.10 and a 52-week high of $113.12. The firm has a market capitalization of $6.16 billion, a PE ratio of 13.37, a P/E/G ratio of 0.93 and a beta of 1.19. The firm has a 50-day moving average price of $104.12 and a 200 day moving average price of $98.87. 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 posted its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.20. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $1.42 earnings per share. On average, sell-side analysts anticipate that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

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.