SG Americas Securities LLC Has $711,000 Stake in Cabot Co. (NYSE:CBT)

SG Americas Securities LLC cut its holdings in shares of Cabot Co. (NYSE:CBT) by 45.5% during the third quarter, Holdings Channel reports. The fund owned 6,362 shares of the specialty chemicals company’s stock after selling 5,321 shares during the quarter. SG Americas Securities LLC’s holdings in Cabot were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CBT. BNP Paribas Financial Markets increased its stake in shares of Cabot by 28.8% during the first quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock worth $4,727,000 after purchasing an additional 11,471 shares during the period. Leeward Investments LLC MA increased its position in Cabot by 41.1% during the 1st quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock worth $15,085,000 after buying an additional 47,682 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Cabot by 267.3% during the fourth quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company’s stock worth $950,000 after buying an additional 8,282 shares in the last quarter. Janney Montgomery Scott LLC boosted its position 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 valued at $1,006,000 after acquiring an additional 6,070 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Cabot by 6.1% in the first quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after acquiring an additional 49,467 shares in the last quarter. Institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CBT. UBS Group dropped their price objective 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. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. increased their price target on Cabot from $95.00 to $105.00 and gave the stock 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 stock. According to MarketBeat.com, Cabot currently has an average rating of “Hold” and a consensus price target of $101.75.

Cabot Price Performance

CBT stock opened at $112.41 on Monday. The company’s 50-day moving average price is $104.12 and its two-hundred day moving average price is $98.99. The firm has a market cap of $6.21 billion, a P/E ratio of 14.23, a P/E/G ratio of 0.93 and a beta of 1.19. 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 Co. has a 12 month low of $65.10 and a 12 month high of $113.12.

Cabot (NYSE:CBT) last announced its quarterly earnings data 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 business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm posted $1.42 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at $5,968,839.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $100.58, for a total transaction of $548,865.06. Following the completion of the transaction, the executive vice president now directly owns 61,688 shares in the company, valued at $6,204,579.04. This represents 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 hyperlink. Also, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the completion of the sale, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,939 shares of company stock worth $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.