Cabot Corporation $CBT Stock Holdings Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in Cabot Corporation (NYSE:CBT) by 215.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,678 shares of the specialty chemicals company’s stock after purchasing an additional 9,346 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Cabot were worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CBT. Farther Finance Advisors LLC raised its holdings in shares of Cabot by 1,346.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,620 shares of the specialty chemicals company’s stock worth $136,000 after purchasing an additional 1,508 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Cabot by 26.1% in the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company’s stock worth $141,000 after purchasing an additional 352 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cabot by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,850 shares of the specialty chemicals company’s stock worth $819,000 after purchasing an additional 819 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Cabot in the 1st quarter worth approximately $975,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Cabot in the 1st quarter worth approximately $482,000. 93.18% of the stock is currently owned by institutional investors.

Cabot Stock Performance

Shares of CBT opened at $69.62 on Friday. The company’s 50 day moving average price is $77.29 and its 200 day moving average price is $76.68. Cabot Corporation has a 52 week low of $66.50 and a 52 week high of $117.46. The company has a market capitalization of $3.70 billion, a PE ratio of 9.10 and a beta of 0.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13.

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

Analysts Set New Price Targets

A number of research firms recently commented on CBT. UBS Group set a $82.00 target price on shares of Cabot and gave the stock a “neutral” rating in a report on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Cabot in a report on Wednesday, October 8th. Finally, Mizuho cut their price target on shares of Cabot from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.00.

Insider Buying and Selling

In other Cabot news, CEO Sean D. Keohane sold 114,436 shares of the business’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 sale, the chief executive officer directly owned 361,518 shares of the company’s stock, valued at $28,661,147.04. The trade was a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.03% of the stock is owned by corporate insiders.

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.