Smith Group Asset Management LLC Grows Stock Holdings in Cabot Co. (NYSE:CBT)

Smith Group Asset Management LLC lifted its stake in shares of Cabot Co. (NYSE:CBT) by 24.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,871 shares of the specialty chemicals company’s stock after buying an additional 1,162 shares during the quarter. Smith Group Asset Management LLC’s holdings in Cabot were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its position in shares of Cabot by 41.3% during the third quarter. Nisa Investment Advisors LLC now owns 1,777 shares of the specialty chemicals company’s stock valued at $199,000 after buying an additional 519 shares during the period. Gemmer Asset Management LLC purchased a new position in shares of Cabot during the third quarter valued at about $244,000. State of Alaska Department of Revenue grew its holdings in Cabot by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 6,441 shares of the specialty chemicals company’s stock worth $719,000 after purchasing an additional 430 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Cabot by 19.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,438 shares of the specialty chemicals company’s stock worth $831,000 after purchasing an additional 1,205 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in Cabot by 11,108.7% in the third quarter. Pathway Financial Advisers LLC now owns 7,734 shares of the specialty chemicals company’s stock worth $864,000 after purchasing an additional 7,665 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

Cabot Trading Up 0.9 %

Shares of NYSE CBT opened at $110.27 on Tuesday. The firm’s 50 day moving average price is $107.59 and its 200-day moving average price is $100.41. The company has a market cap of $6.09 billion, a PE ratio of 13.96, a P/E/G ratio of 0.93 and a beta of 1.19. Cabot Co. has a 52-week low of $65.38 and a 52-week high of $117.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22.

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

Insider Activity at Cabot

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. UBS Group cut their price objective on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.75.

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.