Verition Fund Management LLC purchased a new position in Cabot Corporation (NYSE:CBT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,299 shares of the specialty chemicals company’s stock, valued at approximately $443,000.
Other hedge funds have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cabot Corporation by 9.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,469 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 209 shares during the period. Tower Research Capital LLC TRC boosted its stake in Cabot Corporation by 344.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,438 shares of the specialty chemicals company’s stock worth $146,000 after purchasing an additional 1,890 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in Cabot Corporation in the 2nd quarter worth approximately $155,000. Integrated Investment Consultants LLC boosted its stake in Cabot Corporation by 66.1% in the 2nd quarter. Integrated Investment Consultants LLC now owns 3,097 shares of the specialty chemicals company’s stock worth $165,000 after purchasing an additional 1,233 shares during the period. Finally, Oxford Asset Management bought a new position in Cabot Corporation in the 1st quarter worth approximately $205,000. Institutional investors and hedge funds own 84.28% of the company’s stock.
Several research analysts have weighed in on CBT shares. Loop Capital started coverage on Cabot Corporation in a research note on Thursday, September 28th. They issued a “hold” rating and a $59.00 price target for the company. Zacks Investment Research downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. J P Morgan Chase & Co upgraded Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 target price for the company in a research report on Tuesday, August 15th. Finally, BidaskClub downgraded Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cabot Corporation currently has an average rating of “Hold” and an average price target of $60.29.
Shares of Cabot Corporation (CBT) opened at 58.56 on Friday. The company has a market capitalization of $3.64 billion, a P/E ratio of 16.40 and a beta of 1.09. The company has a 50-day moving average price of $55.59 and a 200-day moving average price of $54.52. Cabot Corporation has a 12 month low of $47.99 and a 12 month high of $61.34.
Cabot Corporation (NYSE:CBT) last released its quarterly earnings data on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). The company had revenue of $705.00 million for the quarter, compared to analyst estimates of $664.16 million. Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $0.93 EPS. On average, analysts forecast that Cabot Corporation will post $3.44 EPS for the current fiscal year.
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In other Cabot Corporation news, insider Hobart Kalkstein sold 3,881 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.39, for a total transaction of $207,206.59. Following the transaction, the insider now owns 27,736 shares of the company’s stock, valued at $1,480,825.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.50% of the company’s stock.
Cabot Corporation Company Profile
Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.
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