Sanctuary Advisors LLC Makes New Investment in Cabot Co. (NYSE:CBT)

Sanctuary Advisors LLC bought a new stake in shares of Cabot Co. (NYSE:CBT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,912 shares of the specialty chemicals company's stock, valued at approximately $928,000.

Several other hedge funds have also bought and sold shares of the stock. Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 108,197 shares in the last quarter. Capital Research Global Investors increased its stake 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 worth $48,081,000 after buying an additional 97,101 shares during the period. Earnest Partners LLC increased its stake in shares of Cabot by 2.4% in the second quarter. Earnest Partners LLC now owns 3,363,398 shares of the specialty chemicals company's stock worth $309,063,000 after buying an additional 80,096 shares during the period. American Century Companies Inc. increased its stake in shares of Cabot by 7.3% in the second quarter. American Century Companies Inc. now owns 976,709 shares of the specialty chemicals company's stock worth $89,750,000 after buying an additional 66,171 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Cabot by 5.9% in the second quarter. Sei Investments Co. now owns 913,259 shares of the specialty chemicals company's stock worth $83,919,000 after buying an additional 51,178 shares during the period. 93.18% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Erica Mclaughlin sold 23,274 shares of the company's 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 transaction, the chief financial officer now owns 59,814 shares in the company, valued at $5,968,839.06. The trade was 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 other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the business's stock in a transaction dated 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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sean D. Keohane sold 25,617 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 331,174 shares of the company's stock, valued at approximately $33,630,719.70. This trade represents 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 worth $7,308,812 in the last quarter. Corporate insiders own 3.07% of the company's stock.

Wall Street Analysts Forecast Growth

CBT has been the topic of several analyst reports. StockNews.com downgraded shares of Cabot from a "strong-buy" rating to a "buy" rating in a research note on Monday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of Cabot from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Finally, UBS Group decreased their target price on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating on the stock in a research note 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $101.75.

Cabot Stock Up 1.5 %

Shares of CBT stock traded up $1.64 during mid-day trading on Friday, reaching $112.41. 153,783 shares of the company's stock traded hands, compared to its average volume of 335,941. Cabot Co. has a 12 month low of $65.10 and a 12 month high of $113.12. The company has a market cap of $6.16 billion, a P/E ratio of 13.37, a P/E/G 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. The company's 50-day moving average price is $104.12 and its 200-day moving average price is $98.99.

Cabot (NYSE:CBT - Get Free Report) last announced its 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. Cabot had a net margin of 12.05% and a return on equity of 26.99%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the business posted $1.42 EPS. The company's quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that Cabot Co. will post 7.07 earnings per share for the current fiscal year.

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.