Leeward Investments LLC MA lowered its position in Cabot Corporation (NYSE:CBT – Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,597 shares of the specialty chemicals company’s stock after selling 12,559 shares during the quarter. Leeward Investments LLC MA’s holdings in Cabot were worth $15,966,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Cabot during the second quarter valued at $633,302,000. Bank of America Corp DE bought a new position in Cabot in the 2nd quarter worth about $150,772,000. Bank of New York Mellon Corp bought a new position in Cabot in the 2nd quarter worth about $57,445,000. William Blair Investment Management LLC bought a new position in Cabot in the 2nd quarter worth about $16,809,000. Finally, State Street Corp raised its holdings in shares of Cabot by 6.8% in the 2nd quarter. State Street Corp now owns 2,165,434 shares of the specialty chemicals company’s stock valued at $196,665,000 after acquiring an additional 138,098 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.
Wall Street Analysts Forecast Growth
CBT has been the subject of a number of research analyst reports. Truist Financial set a $100.00 price target on Cabot in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price objective on Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. UBS Group decreased their price objective on shares of Cabot from $92.00 to $86.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Wall Street Zen raised shares of Cabot from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.80.
Get Our Latest Research Report on Cabot
Insider Activity
In other news, CEO Sean Keohane sold 134,895 shares of the company’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the transaction, the chief executive officer directly owned 404,134 shares in the company, valued at approximately $34,351,390. This represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 229,597 shares of company stock valued at $19,646,746. 3.08% of the stock is currently owned by corporate insiders.
Cabot Stock Up 0.1%
Shares of NYSE:CBT opened at $73.86 on Monday. Cabot Corporation has a 52-week low of $58.33 and a 52-week high of $94.53. The firm has a fifty day moving average of $79.05 and a 200 day moving average of $82.49. The firm has a market capitalization of $3.81 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 8.69 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.47.
Cabot (NYSE:CBT – Get Free Report) last released its earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.01. Cabot had a return on equity of 20.29% and a net margin of 5.23%. The business had revenue of $982.00 million for the quarter, compared to analysts’ expectations of $943.16 million. During the same quarter in the prior year, the firm earned $1.90 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, research analysts anticipate that Cabot Corporation will post 6.35 EPS for the current fiscal year.
Cabot Company Profile
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.
Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.
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