Midwest Trust Co Acquires Shares of 8,908 Cabot Corporation $CBT

Midwest Trust Co acquired a new position in shares of Cabot Corporation (NYSE:CBT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,908 shares of the specialty chemicals company’s stock, valued at approximately $668,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in shares of Cabot by 95.5% during the second quarter. Parkside Financial Bank & Trust now owns 387 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 189 shares during the last quarter. Penserra Capital Management LLC grew its position in shares of Cabot by 65.7% during the second quarter. Penserra Capital Management LLC now owns 6,609 shares of the specialty chemicals company’s stock worth $495,000 after buying an additional 2,620 shares in the last quarter. Connable Office Inc. increased its position in shares of Cabot by 13.9% in the 2nd quarter. Connable Office Inc. now owns 9,134 shares of the specialty chemicals company’s stock valued at $685,000 after purchasing an additional 1,118 shares during the last quarter. Corton Capital Inc. purchased a new position in Cabot in the second quarter valued at $236,000. Finally, Lightrock Netherlands B.V. raised its position in shares of Cabot by 19.4% during the 2nd quarter. Lightrock Netherlands B.V. now owns 141,644 shares of the specialty chemicals company’s stock worth $10,623,000 after acquiring an additional 23,000 shares in the last quarter. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Cabot Stock Performance

NYSE CBT opened at $61.39 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41. Cabot Corporation has a 1-year low of $58.99 and a 1-year high of $116.74. The firm has a market capitalization of $3.27 billion, a P/E ratio of 8.02 and a beta of 0.90. The business’s 50-day simple moving average is $72.65 and its 200-day simple moving average is $75.25.

Cabot (NYSE:CBT) last posted its earnings results on Monday, November 3rd. The specialty chemicals company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.02). The business had revenue of $899.00 million for the quarter, compared to analyst estimates of $967.02 million. Cabot had a return on equity of 25.68% and a net margin of 11.14%.The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.80 EPS. Cabot has set its FY 2026 guidance at 6.000-7.00 EPS. Equities analysts predict 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 stock in a transaction 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 completion of the sale, the chief executive officer directly owned 361,518 shares in the company, valued at approximately $28,661,147.04. This represents a 24.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Zacks Research lowered Cabot from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. UBS Group cut their price target on shares of Cabot from $82.00 to $65.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a research report on Wednesday, October 8th. Finally, Mizuho dropped their price objective on shares of Cabot from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $79.33.

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.