Foundations Investment Advisors LLC bought a new stake in Cabot Co. (NYSE:CBT – Free Report) during the third quarter, Holdings Channel reports. The institutional investor bought 2,000 shares of the specialty chemicals company’s stock, valued at approximately $224,000.
Several other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets grew 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 valued at $4,727,000 after buying an additional 11,471 shares in the last quarter. Leeward Investments LLC MA lifted its stake in Cabot by 41.1% in the first quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock valued at $15,085,000 after acquiring an additional 47,682 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Cabot by 125.4% in the first quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock worth $1,006,000 after acquiring an additional 6,070 shares in the last quarter. Sei Investments Co. increased its stake in shares of Cabot by 6.1% during 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 during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Cabot by 571.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after purchasing an additional 108,197 shares during the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.
Cabot Trading Down 1.0 %
Cabot stock opened at $109.26 on Friday. The business’s 50-day simple moving average is $107.40 and its 200-day simple moving average is $100.28. 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.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. UBS Group cut 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. JPMorgan Chase & Co. boosted their target price on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.75.
Check Out Our Latest Stock Report on CBT
Insiders Place Their Bets
In related news, CEO Sean D. Keohane sold 25,617 shares of Cabot stock in a transaction dated 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 sale, the chief executive officer now directly owns 331,174 shares of the company’s stock, valued at $33,630,719.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Erica Mclaughlin sold 23,274 shares of the 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 transaction, the chief financial officer now owns 59,814 shares in the company, valued at approximately $5,968,839.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated 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 $33,630,719.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,939 shares of company stock worth $7,308,812 in the last ninety days. Insiders own 3.07% of the company’s stock.
Cabot Company 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.
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