Cabot Corporation $CBT Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in Cabot Corporation (NYSE:CBT) by 14.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 319,507 shares of the specialty chemicals company’s stock after selling 53,668 shares during the period. ProShare Advisors LLC owned 0.62% of Cabot worth $24,573,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CBT. Signaturefd LLC increased its holdings in Cabot by 43.6% in the third quarter. Signaturefd LLC now owns 1,954 shares of the specialty chemicals company’s stock valued at $150,000 after buying an additional 593 shares during the last quarter. Sterling Capital Management LLC raised its stake in Cabot by 117.5% during the third quarter. Sterling Capital Management LLC now owns 6,954 shares of the specialty chemicals company’s stock valued at $535,000 after buying an additional 3,757 shares in the last quarter. Inspire Investing LLC raised its stake in Cabot by 10.5% during the third quarter. Inspire Investing LLC now owns 8,251 shares of the specialty chemicals company’s stock valued at $635,000 after buying an additional 784 shares in the last quarter. Root Financial Partners LLC bought a new position in Cabot during the 3rd quarter worth approximately $27,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Cabot by 36.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,140 shares of the specialty chemicals company’s stock worth $165,000 after buying an additional 575 shares during the last quarter. Institutional investors and hedge funds own 93.18% of the company’s stock.

Wall Street Analysts Forecast Growth

CBT has been the subject of several research reports. UBS Group decreased their target price on Cabot from $92.00 to $86.00 and set a “neutral” rating for the company in a research report on Monday, October 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Cabot in a research report on Friday, August 21st. Wall Street Zen raised Cabot from a “hold” rating to a “buy” rating in a research report on Sunday, October 11th. Truist Financial set a $100.00 price objective on Cabot in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $87.80.

Cabot Stock Performance

Shares of CBT opened at $75.64 on Tuesday. Cabot Corporation has a 1 year low of $58.33 and a 1 year high of $94.53. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 8.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.47. The firm has a fifty day moving average of $77.79 and a 200-day moving average of $79.52.

Cabot (NYSE:CBT) last released its quarterly earnings data on Monday, November 2nd. The specialty chemicals company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $927.29 million. Cabot had a net margin of 5.23% and a return on equity of 20.29%. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.70 EPS. As a group, equities analysts anticipate that Cabot Corporation will post 6.35 earnings per share for the current year.

Insider Transactions at Cabot

In other Cabot news, CEO Sean Keohane sold 134,895 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $85.00, for a total value of $11,466,075.00. Following the completion of the transaction, the chief executive officer owned 404,134 shares in the company, valued at approximately $34,351,390. This represents a 25.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 229,597 shares of company stock worth $19,646,746. Insiders own 3.08% of the company’s stock.

Cabot Profile

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company develops and manufactures materials used to improve the performance, durability, conductivity, color and purity of products across a range of industries.

Cabot’s products include carbon black used in tires, rubber goods, coatings, plastics and printing inks; specialty carbons and conductive materials for batteries and other applications; and specialty compounds and masterbatches.