Cabot Corporation $CBT Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its position in shares of Cabot Corporation (NYSE:CBT) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,931 shares of the specialty chemicals company’s stock after selling 1,121 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cabot were worth $3,295,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC lifted its stake in shares of Cabot by 3.6% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,918 shares of the specialty chemicals company’s stock worth $326,000 after acquiring an additional 135 shares in the last quarter. Keeley Teton Advisors LLC increased its holdings in Cabot by 1.0% during the 1st quarter. Keeley Teton Advisors LLC now owns 16,756 shares of the specialty chemicals company’s stock worth $1,393,000 after purchasing an additional 174 shares during the last quarter. Isthmus Partners LLC raised its position in shares of Cabot by 4.6% in the 1st quarter. Isthmus Partners LLC now owns 4,258 shares of the specialty chemicals company’s stock valued at $354,000 after purchasing an additional 186 shares in the last quarter. Ferguson Wellman Capital Management Inc. boosted its stake in shares of Cabot by 4.2% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 5,000 shares of the specialty chemicals company’s stock valued at $375,000 after buying an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Cabot by 12.3% during the second quarter. GAMMA Investing LLC now owns 1,909 shares of the specialty chemicals company’s stock worth $143,000 after buying an additional 209 shares in the last quarter. 93.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CBT has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a report on Wednesday, October 8th. Mizuho cut their target price on shares of Cabot from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, UBS Group set a $82.00 price target on Cabot and gave the stock a “neutral” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.00.

Cabot Stock Down 0.1%

Shares of NYSE:CBT opened at $71.00 on Wednesday. Cabot Corporation has a 1-year low of $66.50 and a 1-year high of $117.46. The company’s fifty day moving average is $76.20 and its two-hundred day moving average is $76.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.41 and a current ratio of 2.13. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 9.28 and a beta of 0.88.

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

Insider Buying and Selling at Cabot

In related news, CEO Sean D. Keohane sold 114,436 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 361,518 shares of the company’s stock, valued at approximately $28,661,147.04. This trade represents a 24.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.03% of the company’s stock.

Cabot Profile

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.