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

Cabot Co. (NYSE:CBT - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,380,000 shares, a decrease of 5.6% from the September 15th total of 2,520,000 shares. Based on an average trading volume of 376,100 shares, the days-to-cover ratio is presently 6.3 days. Approximately 4.4% of the shares of the company are short sold.

Insider Transactions at Cabot

In related news, CEO Sean D. Keohane sold 25,617 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Erica Mclaughlin sold 23,274 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $99.79, for a total transaction of $2,322,512.46. Following the sale, the chief financial officer now owns 59,814 shares of the company's stock, valued at $5,968,839.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 331,174 shares of the company's stock, valued at approximately $33,630,719.70. This 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. 3.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cabot

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC grew its stake in Cabot by 285.7% during the 3rd quarter. nVerses Capital LLC now owns 2,700 shares of the specialty chemicals company's stock valued at $302,000 after acquiring an additional 2,000 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Cabot during the 3rd quarter worth approximately $25,000. Creative Planning grew its position in shares of Cabot by 63.6% in the third quarter. Creative Planning now owns 17,363 shares of the specialty chemicals company's stock valued at $1,941,000 after purchasing an additional 6,749 shares in the last quarter. Compton Wealth Advisory Group LLC acquired a new stake in shares of Cabot in the third quarter valued at approximately $204,000. Finally, Inspire Investing LLC lifted its position in 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 buying an additional 7,671 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Price Performance

Cabot stock traded up $2.64 during midday trading on Wednesday, reaching $116.05. The company had a trading volume of 264,085 shares, compared to its average volume of 334,158. 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 has a 12-month low of $65.10 and a 12-month high of $117.14. The company has a market capitalization of $6.41 billion, a P/E ratio of 14.69, a P/E/G ratio of 0.93 and a beta of 1.19. The firm's fifty day simple moving average is $105.29 and its 200-day simple moving average is $99.41.

Cabot (NYSE:CBT - Get Free Report) last released its earnings results on Monday, August 5th. The specialty chemicals company reported $1.92 earnings per share 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 the consensus estimate of $1 billion. During the same quarter last year, the business posted $1.42 earnings per share. The business's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cabot will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CBT. 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 research report on Wednesday, August 7th. StockNews.com cut Cabot from a "strong-buy" rating to a "buy" rating in a report on Monday, June 24th. Finally, UBS Group dropped their price objective on 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 given a buy rating to the company's stock. According to data from MarketBeat.com, Cabot currently has a consensus 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.