AlphaQuest LLC Reduces Position in Cabot Corporation $CBT

AlphaQuest LLC reduced its stake in shares of Cabot Corporation (NYSE:CBT) by 29.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,174 shares of the specialty chemicals company’s stock after selling 7,235 shares during the period. AlphaQuest LLC’s holdings in Cabot were worth $1,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in Cabot by 409.0% during the first quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 364 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Cabot in the 1st quarter worth $43,000. CWM LLC raised its holdings in shares of Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company’s stock worth $50,000 after acquiring an additional 213 shares during the period. Brooklyn Investment Group grew its holdings in shares of Cabot by 1,553.7% in the first quarter. Brooklyn Investment Group now owns 678 shares of the specialty chemicals company’s stock valued at $56,000 after purchasing an additional 637 shares during the period. Finally, UMB Bank n.a. increased its position in Cabot by 52.4% during the second quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Stock Up 0.3%

Shares of NYSE CBT opened at $71.31 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $76.52 and its two-hundred day moving average is $76.48. Cabot Corporation has a 52-week low of $66.50 and a 52-week high of $117.46. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 9.32 and a beta of 0.88.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.10. Cabot had a return on equity of 25.68% and a net margin of 11.14%.The business had revenue of $923.00 million during the quarter, compared to analysts’ expectations of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. Research analysts predict that Cabot Corporation will post 7.57 EPS for the current year.

Insider Activity at Cabot

In other news, CEO Sean D. Keohane sold 114,436 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $79.28, for a total value of $9,072,486.08. Following the completion of the transaction, the chief executive officer owned 361,518 shares of the company’s stock, valued at approximately $28,661,147.04. This trade represents a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CBT. Weiss Ratings reissued a “hold (c)” rating on shares of Cabot in a research note on Friday. UBS Group set a $82.00 price objective on Cabot and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Finally, Mizuho reduced their target price on Cabot from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cabot presently has an average rating of “Hold” and a consensus target price of $85.00.

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.