Cabot Co. (NYSE:CBT) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Cabot Co. (NYSE:CBTGet Rating) by 10.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,818 shares of the specialty chemicals company’s stock after selling 3,652 shares during the period. State of New Jersey Common Pension Fund D owned 0.06% of Cabot worth $2,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CBT. Meeder Asset Management Inc. acquired a new position in Cabot in the first quarter worth about $28,000. Parkside Financial Bank & Trust grew its stake in Cabot by 176.0% in the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 264 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in Cabot in the first quarter worth about $35,000. Catalyst Capital Advisors LLC acquired a new position in Cabot in the first quarter worth about $38,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Cabot by 100.0% in the second quarter. Nisa Investment Advisors LLC now owns 1,700 shares of the specialty chemicals company’s stock worth $108,000 after acquiring an additional 850 shares during the last quarter. 96.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Cabot in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Cabot currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Cabot Stock Performance

Shares of NYSE CBT opened at $70.07 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.70 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $69.00 and its two-hundred day moving average price is $69.48. Cabot Co. has a 52-week low of $50.96 and a 52-week high of $78.62. The stock has a market capitalization of $3.94 billion, a P/E ratio of 28.48 and a beta of 1.39.

Cabot (NYSE:CBTGet Rating) last released its quarterly earnings results on Monday, August 8th. The specialty chemicals company reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.20. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Cabot had a return on equity of 32.30% and a net margin of 3.50%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 earnings per share. As a group, sell-side analysts forecast that Cabot Co. will post 6.2 earnings per share for the current year.

Cabot Company Profile

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Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through three segments: Reinforcement Materials, Performance Chemicals, and Purification Solutions. The company offers reinforcing carbons 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.

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Institutional Ownership by Quarter for Cabot (NYSE:CBT)

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