23,415 Shares in Cabot Co. (NYSE:CBT) Acquired by Riverwater Partners LLC

Riverwater Partners LLC bought a new stake in Cabot Co. (NYSE:CBT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 23,415 shares of the specialty chemicals company's stock, valued at approximately $2,589,000. Cabot accounts for about 1.3% of Riverwater Partners LLC's portfolio, making the stock its 14th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in CBT. Wolff Wiese Magana LLC acquired a new stake in shares of Cabot in the 3rd quarter worth approximately $25,000. UMB Bank n.a. lifted its position in Cabot by 53.9% in 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 during the period. CWM LLC boosted its stake in Cabot by 60.6% during the 2nd quarter. CWM LLC now owns 416 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 157 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Cabot by 33.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 475 shares of the specialty chemicals company's stock valued at $48,000 after purchasing an additional 119 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Cabot during the 2nd quarter valued at $49,000. Institutional investors own 93.18% of the company's stock.

Cabot Price Performance

Shares of NYSE CBT traded up $1.20 during mid-day trading on Thursday, reaching $110.39. The company had a trading volume of 274,149 shares, compared to its average volume of 332,184. The company has a 50-day moving average price of $106.96 and a two-hundred day moving average price of $100.09. The stock has a market cap of $6.10 billion, a PE ratio of 13.82, a P/E/G ratio of 0.93 and a beta of 1.19. The company has a current ratio of 2.22, a quick ratio of 1.45 and a debt-to-equity ratio of 0.72. Cabot Co. has a 1-year low of $65.10 and a 1-year high of $117.14.

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

Insider Activity at Cabot

In other Cabot news, CFO Erica Mclaughlin sold 23,274 shares of the business's stock in a transaction 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 directly owns 59,814 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Erica Mclaughlin sold 23,274 shares of the firm'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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Hobart Kalkstein sold 5,457 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were 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 $6,204,579.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,939 shares of company stock worth $7,308,812. 3.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Cabot from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. UBS Group reduced their price objective on shares of Cabot from $103.00 to $98.00 and set a "neutral" rating for the company in a research 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's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.