Marshall Wace LLP Makes New Investment in Cabot Co. (NYSE:CBT)

Marshall Wace LLP bought a new stake in Cabot Co. (NYSE:CBT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,698 shares of the specialty chemicals company’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in shares of Cabot by 571.9% in the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company’s stock valued at $11,681,000 after purchasing an additional 108,197 shares during the period. Capital Research Global Investors raised its stake in shares of Cabot by 22.9% during the first quarter. Capital Research Global Investors now owns 521,486 shares of the specialty chemicals company’s stock valued at $48,081,000 after purchasing an additional 97,101 shares in the last quarter. Eventide Asset Management LLC acquired a new stake in Cabot in the fourth quarter worth about $6,919,000. American Century Companies Inc. grew its position in Cabot by 7.3% in the 2nd quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company’s stock valued at $89,750,000 after buying an additional 66,171 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Cabot by 5.9% during the 2nd quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company’s stock valued at $83,919,000 after buying an additional 51,178 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cabot

In other Cabot news, CEO Sean D. Keohane sold 25,617 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $101.55, for a total value of $2,601,406.35. Following the completion of the sale, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sean D. Keohane sold 25,617 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 331,174 shares in the company, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeff Ji Zhu sold 1,201 shares of Cabot stock in a transaction dated 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 owns 96,000 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 71,939 shares of company stock worth $7,308,812. Company insiders own 3.07% of the company’s stock.

Cabot Trading Down 0.1 %

NYSE:CBT opened at $110.81 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.22 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average is $103.67 and its 200-day moving average is $98.71. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.01 and a beta of 1.19. Cabot Co. has a 12 month low of $65.10 and a 12 month high of $113.12.

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

Analysts Set New Price Targets

A number of research firms have weighed in on CBT. StockNews.com downgraded Cabot from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upped their price objective on Cabot from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, UBS Group lowered their target price on Cabot from $103.00 to $98.00 and set a “neutral” rating on the stock 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.