Assenagon Asset Management S.A. Boosts Position in Cabot Co. (NYSE:CBT)

Assenagon Asset Management S.A. raised its position in Cabot Co. (NYSE:CBT) by 42.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,551 shares of the specialty chemicals company’s stock after acquiring an additional 54,435 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.33% of Cabot worth $20,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in shares of Cabot by 28.8% in the 1st 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 boosted its stake in shares of 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 acquiring an additional 47,682 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Cabot by 125.4% during the 1st 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. Sei Investments Co. increased its stake in shares of Cabot by 6.1% in the 1st quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock worth $79,484,000 after purchasing an additional 49,467 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in Cabot by 101.7% in the 1st quarter. Tidal Investments LLC now owns 18,107 shares of the specialty chemicals company’s stock worth $1,669,000 after purchasing an additional 9,131 shares during the period. 93.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cabot 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 sale, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Erica Mclaughlin sold 23,274 shares of Cabot stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 59,814 shares in the company, valued at approximately $5,968,839.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is owned by insiders.

Cabot Trading Down 1.0 %

Shares of CBT stock opened at $109.26 on Friday. The stock has a fifty day simple moving average of $107.40 and a two-hundred day simple moving average of $100.27. Cabot Co. has a 52-week low of $65.10 and a 52-week high of $117.14. The firm has a market capitalization of $6.04 billion, a PE ratio of 13.83, a PEG ratio of 0.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22.

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 the consensus estimate of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts predict that Cabot Co. will post 7.07 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on CBT. UBS Group cut their price target on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.75.

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.