New York State Common Retirement Fund Acquires 36,036 Shares of Cabot Co. (NYSE:CBT)

New York State Common Retirement Fund boosted its holdings in shares of Cabot Co. (NYSE:CBT) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,378 shares of the specialty chemicals company’s stock after buying an additional 36,036 shares during the quarter. New York State Common Retirement Fund owned approximately 0.47% of Cabot worth $28,991,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Cabot

In other news, EVP Jeff Ji Zhu sold 1,201 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the completion of the sale, the executive vice president now owns 96,000 shares of the company’s stock, valued at approximately $10,194,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total value of $2,322,512.46. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $106.19, for a total transaction of $127,534.19. Following the sale, the executive vice president now directly owns 96,000 shares in the company, valued at $10,194,240. 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 a total of 71,939 shares of company stock valued at $7,308,812 in the last ninety days. 3.07% of the stock is currently owned by company insiders.

Cabot Trading Up 1.1 %

Shares of NYSE:CBT opened at $109.02 on Monday. The business’s 50 day simple moving average is $108.20 and its 200 day simple moving average is $100.81. The company has a market capitalization of $5.98 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.90 and a beta of 1.20. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.22 and a quick ratio of 1.45. Cabot Co. has a 1 year low of $65.93 and a 1 year high of $117.14.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group reduced their target price on shares of Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.75.

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.