Cabot Co. (NYSE:CBT) Shares Acquired by Creative Planning

Creative Planning lifted its holdings in shares of Cabot Co. (NYSE:CBT) by 63.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,363 shares of the specialty chemicals company’s stock after buying an additional 6,749 shares during the quarter. Creative Planning’s holdings in Cabot were worth $1,941,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CBT. Compton Wealth Advisory Group LLC purchased a new stake in shares of Cabot during the third quarter worth approximately $204,000. Inspire Investing LLC increased its position in shares of Cabot by 202.3% during the third quarter. Inspire Investing LLC now owns 11,462 shares of the specialty chemicals company’s stock worth $1,281,000 after purchasing an additional 7,671 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in shares of Cabot during the third quarter worth approximately $233,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Cabot during the third quarter worth approximately $447,000. Finally, UMB Bank n.a. increased its position in shares of 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 purchasing an additional 130 shares in the last quarter. 93.18% of the stock is owned by institutional investors and hedge funds.

Cabot Stock Performance

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

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

Wall Street Analyst Weigh In

CBT has been the subject of several research reports. JPMorgan Chase & Co. boosted their price target on Cabot from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group dropped their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Cabot presently has an average rating of “Hold” and an average price target of $101.75.

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 transaction, the chief financial officer now owns 59,814 shares of the company’s stock, valued at $5,968,839.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Erica Mclaughlin sold 23,274 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hobart Kalkstein sold 5,457 shares of the stock in a transaction dated 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 directly owns 61,688 shares in the company, valued at approximately $6,204,579.04. The trade was a 0.00 % decrease in their position. 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 quarter. Insiders own 3.07% of the company’s stock.

Cabot 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.