Livforsakringsbolaget Skandia Omsesidigt Acquires New Shares in Cabot Co. (NYSE:CBT)

Livforsakringsbolaget Skandia Omsesidigt bought a new position in Cabot Co. (NYSE:CBT) in the third quarter, HoldingsChannel reports. The institutional investor bought 4,000 shares of the specialty chemicals company’s stock, valued at approximately $447,000.

Other hedge funds have also recently modified their holdings of the company. Earnest Partners LLC increased its holdings in Cabot by 2.4% in the 2nd quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company’s stock worth $309,063,000 after buying an additional 80,096 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Cabot by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,348,972 shares of the specialty chemicals company’s stock worth $123,965,000 after acquiring an additional 4,437 shares during the period. American Century Companies Inc. raised its holdings in shares of Cabot by 7.3% during the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after purchasing an additional 66,171 shares during the last quarter. Sei Investments Co. lifted its position in Cabot by 5.9% during the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after purchasing an additional 51,178 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Cabot by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 693,580 shares of the specialty chemicals company’s stock worth $63,733,000 after purchasing an additional 11,986 shares during the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cabot Trading Up 1.5 %

NYSE:CBT opened at $112.41 on Monday. Cabot Co. has a one year low of $65.10 and a one year high of $113.12. The business has a fifty day moving average price of $104.12 and a 200-day moving average price of $98.99. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.20. Cabot had a return on equity of 26.99% and a net margin of 12.05%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business posted $1.42 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. Sell-side analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

Insiders Place Their Bets

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $106.19, for a total transaction of $127,534.19. Following the sale, the executive vice president now owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the business’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 value of $2,601,406.35. Following the completion of the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,939 shares of company stock worth $7,308,812. Company insiders own 3.07% of the company’s stock.

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.