Cabot Co. (NYSE:CBT) Short Interest Down 5.6% in September

Cabot Co. (NYSE:CBT) was the target of a significant drop in short interest in September. As of September 30th, there was short interest totalling 2,380,000 shares, a drop of 5.6% from the September 15th total of 2,520,000 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily volume of 376,100 shares, the short-interest ratio is currently 6.3 days.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CBT. JPMorgan Chase & Co. raised their price objective on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. StockNews.com cut Cabot from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 24th. Finally, 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. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $101.75.

Insider Buying and Selling at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total transaction of $2,601,406.35. Following the sale, the chief executive officer now owns 331,174 shares in the company, valued at $33,630,719.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Hobart Kalkstein sold 5,457 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $100.58, for a total transaction of $548,865.06. Following the transaction, the executive vice president now directly owns 61,688 shares of the company’s stock, valued at approximately $6,204,579.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.55, for a total value of $2,601,406.35. Following the transaction, the chief executive officer now directly owns 331,174 shares in the company, valued at $33,630,719.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,939 shares of company stock worth $7,308,812 over the last 90 days. Corporate insiders own 3.07% of the company’s stock.

Institutional Trading of Cabot

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in Cabot by 28.8% in the first quarter. BNP Paribas Financial Markets now owns 51,271 shares of the specialty chemicals company’s stock worth $4,727,000 after buying an additional 11,471 shares during the period. Leeward Investments LLC MA lifted its holdings in Cabot by 41.1% in the first quarter. Leeward Investments LLC MA now owns 163,617 shares of the specialty chemicals company’s stock worth $15,085,000 after buying an additional 47,682 shares during the period. Quadrature Capital Ltd lifted its holdings in Cabot by 267.3% in the fourth quarter. Quadrature Capital Ltd now owns 11,380 shares of the specialty chemicals company’s stock worth $950,000 after buying an additional 8,282 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Cabot by 125.4% during the first quarter. Janney Montgomery Scott LLC now owns 10,911 shares of the specialty chemicals company’s stock valued at $1,006,000 after purchasing an additional 6,070 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Cabot by 6.1% during the first quarter. Sei Investments Co. now owns 862,081 shares of the specialty chemicals company’s stock valued at $79,484,000 after purchasing an additional 49,467 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Cabot Stock Up 2.3 %

NYSE CBT opened at $116.05 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. The stock has a market capitalization of $6.41 billion, a PE ratio of 14.69, a PEG ratio of 0.93 and a beta of 1.19. Cabot has a 1 year low of $65.10 and a 1 year high of $117.14. The business’s 50-day moving average is $105.29 and its 200 day moving average is $99.41.

Cabot (NYSE:CBT) last issued its quarterly earnings data on Monday, August 5th. The specialty chemicals company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.72 by $0.20. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business posted $1.42 earnings per share. Cabot’s quarterly revenue was up 5.0% compared to the same quarter last year. Sell-side analysts forecast that Cabot will post 7.07 earnings per share 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.