Thrivent Financial For Lutherans lessened its position in Cabot Corporation (NYSE:CBT) by 86.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,650 shares of the specialty chemicals company’s stock after selling 78,550 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Cabot Corporation were worth $676,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CBT. UBS Asset Management Americas Inc. increased its stake in Cabot Corporation by 9.9% in the first quarter. UBS Asset Management Americas Inc. now owns 46,181 shares of the specialty chemicals company’s stock valued at $2,767,000 after acquiring an additional 4,142 shares during the last quarter. Karp Capital Management Corp bought a new position in Cabot Corporation in the first quarter valued at $841,000. Sei Investments Co. increased its stake in Cabot Corporation by 17.8% in the first quarter. Sei Investments Co. now owns 18,462 shares of the specialty chemicals company’s stock valued at $1,107,000 after acquiring an additional 2,785 shares during the last quarter. Oxford Asset Management bought a new position in Cabot Corporation in the first quarter valued at $205,000. Finally, Schroder Investment Management Group increased its stake in Cabot Corporation by 29.3% in the first quarter. Schroder Investment Management Group now owns 18,342 shares of the specialty chemicals company’s stock valued at $1,094,000 after acquiring an additional 4,156 shares during the last quarter. 84.28% of the stock is currently owned by institutional investors and hedge funds.
Cabot Corporation (NYSE:CBT) last posted its earnings results on Tuesday, August 1st. The specialty chemicals company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Cabot Corporation had a return on equity of 16.03% and a net margin of 8.61%. The business had revenue of $705.00 million during the quarter, compared to the consensus estimate of $664.16 million. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s quarterly revenue was up 13.5% on a year-over-year basis.
A number of research analysts recently commented on CBT shares. Zacks Investment Research cut Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Loop Capital started coverage on Cabot Corporation in a research note on Thursday, September 28th. They issued a “hold” rating and a $59.00 target price on the stock. BidaskClub raised Cabot Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. J P Morgan Chase & Co raised Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 target price on the stock in a research note on Tuesday, August 15th. Finally, ValuEngine cut Cabot Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $60.29.
In other news, insider Hobart Kalkstein sold 3,881 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.39, for a total value of $207,206.59. Following the sale, the insider now directly owns 27,736 shares in the company, valued at approximately $1,480,825.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.50% of the company’s stock.
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About Cabot Corporation
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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