Cabot Co. (NYSE:CBT) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its holdings in Cabot Co. (NYSE:CBT) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,796 shares of the specialty chemicals company’s stock after selling 166 shares during the quarter. Park Avenue Securities LLC’s holdings in Cabot were worth $424,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CBT. CWM LLC grew its position in Cabot by 60.6% in the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 157 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Cabot during the 2nd quarter worth approximately $49,000. Mather Group LLC. purchased a new position in Cabot during the 2nd quarter worth approximately $58,000. Finally, nVerses Capital LLC purchased a new position in Cabot during the 2nd quarter worth approximately $64,000. Institutional investors and hedge funds own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. StockNews.com cut shares of Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. lifted their price objective on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $101.75.

Cabot Trading Up 1.5 %

Shares of NYSE:CBT opened at $112.41 on Friday. The firm has a fifty day moving average of $104.12 and a two-hundred day moving average of $98.94. The firm has a market capitalization of $6.16 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19. Cabot Co. has a 12-month low of $65.10 and a 12-month high of $113.12. 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 issued its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts expect that Cabot Co. will post 7.07 EPS for the current fiscal year.

Insider Activity at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction 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 completion of the sale, the chief executive officer now owns 331,174 shares of the company’s stock, valued at approximately $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 accessible through this link. In related news, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the sale, the chief financial officer now owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. 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 accessible through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,939 shares of company stock valued at $7,308,812. Insiders own 3.07% of the company’s stock.

About Cabot

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.