Cabot Co. (NYSE:CBT) Stake Cut by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its holdings in shares of Cabot Co. (NYSE:CBT) by 0.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 286,378 shares of the specialty chemicals company’s stock after selling 128 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.52% of Cabot worth $31,613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC bought a new stake in shares of Cabot during the 3rd quarter valued at about $25,000. CWM LLC grew its holdings in shares of Cabot by 60.6% during the second quarter. CWM LLC now owns 416 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 157 shares during the last quarter. UMB Bank n.a. raised its position in shares of Cabot by 53.9% during the 3rd quarter. UMB Bank n.a. now owns 371 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 130 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Cabot by 33.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 119 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Cabot during the 2nd quarter valued at approximately $49,000. 93.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Erica Mclaughlin sold 23,274 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the sale, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Cabot news, EVP Hobart Kalkstein sold 5,457 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total value of $548,865.06. Following the transaction, the executive vice president now owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. This 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 accessible through this hyperlink. Also, CFO Erica Mclaughlin sold 23,274 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total value of $2,322,512.46. Following the sale, the chief financial officer now directly owns 59,814 shares of the company’s stock, valued at approximately $5,968,839.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports 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 research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.75.

Cabot Stock Performance

Shares of NYSE:CBT traded up $1.13 on Wednesday, hitting $110.00. The company’s stock had a trading volume of 13,824 shares, compared to its average volume of 330,665. Cabot Co. has a 12 month low of $65.38 and a 12 month high of $117.14. The stock’s 50-day moving average is $107.79 and its two-hundred day moving average is $100.52. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.93 and a beta of 1.19.

Cabot (NYSE:CBT) last announced its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.20. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. Cabot had a net margin of 12.05% and a return on equity of 26.99%. Cabot’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 EPS. On average, equities research analysts forecast that Cabot Co. will post 7.07 EPS for the current year.

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.