QRG Capital Management Inc. Has $379,000 Stock Position in Cabot Corporation $CBT

QRG Capital Management Inc. decreased its stake in shares of Cabot Corporation (NYSE:CBT) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,048 shares of the specialty chemicals company’s stock after selling 749 shares during the period. QRG Capital Management Inc.’s holdings in Cabot were worth $379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CBT. Geneos Wealth Management Inc. raised its holdings in Cabot by 409.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 364 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Cabot during the 1st quarter worth about $43,000. CWM LLC raised its holdings in Cabot by 55.0% during the 1st quarter. CWM LLC now owns 600 shares of the specialty chemicals company’s stock worth $50,000 after purchasing an additional 213 shares during the last quarter. UMB Bank n.a. raised its holdings in Cabot by 52.4% during the 2nd quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 251 shares during the last quarter. Finally, Brooklyn Investment Group raised its holdings in Cabot by 1,553.7% during the 1st quarter. Brooklyn Investment Group now owns 678 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 637 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Cabot Price Performance

NYSE:CBT opened at $69.21 on Friday. Cabot Corporation has a 1-year low of $69.04 and a 1-year high of $117.46. The company has a current ratio of 2.13, a quick ratio of 1.41 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $78.13 and a 200 day simple moving average of $77.23. The stock has a market capitalization of $3.68 billion, a PE ratio of 9.05 and a beta of 0.88.

Cabot (NYSE:CBT) last released its earnings results on Monday, August 4th. The specialty chemicals company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.10. Cabot had a net margin of 11.14% and a return on equity of 25.68%. The business had revenue of $923.00 million during the quarter, compared to analysts’ expectations of $957.29 million. Cabot has set its FY 2025 guidance at 7.150-7.500 EPS. On average, research analysts expect that Cabot Corporation will post 7.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CBT. Mizuho lowered their price target on Cabot from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. UBS Group set a $82.00 price objective on Cabot and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $85.00.

Insider Buying and Selling

In related news, CEO Sean D. Keohane sold 114,436 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $79.28, for a total value of $9,072,486.08. Following the completion of the transaction, the chief executive officer owned 361,518 shares of the company’s stock, valued at $28,661,147.04. The trade was a 24.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.03% of the stock is currently owned by company 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.