Short Interest in Cabot Co. (NYSE:CBT) Declines By 14.5%

Cabot Co. (NYSE:CBT) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,590,000 shares, a decrease of 14.5% from the March 15th total of 1,860,000 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average trading volume of 310,400 shares, the days-to-cover ratio is currently 5.1 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CBT shares. UBS Group cut Cabot from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $87.00 in a research report on Monday, January 8th. Mizuho started coverage on shares of Cabot in a research note on Wednesday, March 27th. They set a “buy” rating and a $104.00 target price for the company. Finally, StockNews.com lowered shares of Cabot from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cabot presently has an average rating of “Moderate Buy” and an average price target of $87.67.

Cabot Trading Down 0.3 %

NYSE:CBT opened at $93.03 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.04 and a quick ratio of 1.30. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.99 and a beta of 1.28. Cabot has a one year low of $63.73 and a one year high of $98.34. The business has a fifty day moving average price of $87.25 and a 200-day moving average price of $79.15.

Cabot (NYSE:CBT) last posted its quarterly earnings data on Monday, February 5th. The specialty chemicals company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.49 by $0.07. The firm had revenue of $958.00 million during the quarter, compared to analyst estimates of $927.28 million. Cabot had a return on equity of 25.52% and a net margin of 11.24%. Sell-side analysts forecast that Cabot will post 6.58 EPS for the current year.

Insider Activity at Cabot

In related news, EVP Jeff Ji Zhu sold 55,233 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $79.91, for a total value of $4,413,669.03. Following the transaction, the executive vice president now directly owns 97,201 shares of the company’s stock, valued at approximately $7,767,331.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.07% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cabot

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in Cabot by 143.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 333 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 196 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Cabot by 176.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 264 shares in the last quarter. Arlington Trust Co LLC purchased a new stake in Cabot in the 4th quarter worth $34,000. Hexagon Capital Partners LLC increased its stake in Cabot by 81.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 460 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 207 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Cabot by 372.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 505 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 93.18% of the company’s stock.

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.