Cubist Systematic Strategies LLC Trims Stock Position in Cabot Co. (NYSE:CBT)

Cubist Systematic Strategies LLC reduced its holdings in shares of Cabot Co. (NYSE:CBT - Free Report) by 44.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,624 shares of the specialty chemicals company's stock after selling 6,139 shares during the period. Cubist Systematic Strategies LLC's holdings in Cabot were worth $701,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Cabot by 571.9% during the second quarter. Assenagon Asset Management S.A. now owns 127,116 shares of the specialty chemicals company's stock worth $11,681,000 after purchasing an additional 108,197 shares during the period. Capital Research Global Investors boosted its holdings in shares of Cabot by 22.9% in 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 acquiring an additional 97,101 shares in the last quarter. Eventide Asset Management LLC acquired a new position in shares of Cabot during the fourth quarter worth about $6,919,000. Earnest Partners LLC raised its holdings in Cabot by 2.4% during the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company's stock worth $309,063,000 after purchasing an additional 80,096 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Cabot by 7.3% in the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company's stock valued at $89,750,000 after purchasing an additional 66,171 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CBT shares. UBS Group cut their target price on Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their target price on Cabot from $95.00 to $105.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Finally, StockNews.com lowered shares of Cabot from a "strong-buy" rating to a "buy" rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $101.75.

Cabot Price Performance

CBT stock traded up $1.64 during midday trading on Friday, hitting $112.41. 153,783 shares of the stock were exchanged, compared to its average volume of 335,941. The stock's 50-day moving average price is $104.12 and its 200-day moving average price is $98.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 2.22. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 0.93 and a beta of 1.19. Cabot Co. has a fifty-two week low of $65.10 and a fifty-two week high of $113.12.

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

Insider Activity

In related news, CEO Sean D. Keohane sold 25,617 shares of the company'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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the firm's stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean D. Keohane sold 25,617 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 331,174 shares of the company's stock, valued at approximately $33,630,719.70. This represents a 0.00 % decrease in their position. 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 ninety days. 3.07% of the stock is currently owned by insiders.

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.