Peregrine Capital Management LLC Grows Position in Cabot Corporation (CBT)

Peregrine Capital Management LLC boosted its position in shares of Cabot Corporation (NYSE:CBT) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,109 shares of the specialty chemicals company’s stock after purchasing an additional 3,351 shares during the period. Peregrine Capital Management LLC owned 0.27% of Cabot Corporation worth $9,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Cabot Corporation by 7.2% during the second quarter. BlackRock Inc. now owns 7,544,005 shares of the specialty chemicals company’s stock valued at $403,077,000 after purchasing an additional 505,594 shares during the last quarter. LSV Asset Management boosted its position in Cabot Corporation by 1.5% during the second quarter. LSV Asset Management now owns 3,059,449 shares of the specialty chemicals company’s stock valued at $163,466,000 after purchasing an additional 43,976 shares during the last quarter. State Street Corp boosted its position in Cabot Corporation by 5.1% during the second quarter. State Street Corp now owns 1,751,827 shares of the specialty chemicals company’s stock valued at $93,598,000 after purchasing an additional 84,905 shares during the last quarter. Earnest Partners LLC boosted its position in Cabot Corporation by 41.8% during the second quarter. Earnest Partners LLC now owns 1,491,521 shares of the specialty chemicals company’s stock valued at $79,692,000 after purchasing an additional 439,350 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Cabot Corporation by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,443,849 shares of the specialty chemicals company’s stock valued at $77,144,000 after purchasing an additional 103,005 shares during the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

CBT has been the subject of a number of analyst reports. Loop Capital initiated coverage on Cabot Corporation in a research report on Thursday, September 28th. They issued a “hold” rating and a $59.00 price target for the company. Zacks Investment Research cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. J P Morgan Chase & Co raised Cabot Corporation from a “neutral” rating to an “overweight” rating and set a $57.00 price target for the company in a research report on Tuesday, August 15th. Finally, BidaskClub cut Cabot Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $61.14.

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Cabot Corporation (NYSE:CBT) last posted its quarterly earnings data on Tuesday, October 31st. The specialty chemicals company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.02). Cabot Corporation had a return on equity of 15.11% and a net margin of 8.87%. The business had revenue of $723.00 million for the quarter, compared to analyst estimates of $683.30 million. During the same quarter in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis.

In related news, insider Hobart Kalkstein sold 3,881 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.39, for a total value of $207,206.59. Following the completion of the sale, the insider now directly owns 27,736 shares in the company, valued at approximately $1,480,825.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.50% of the company’s stock.

About Cabot Corporation

Cabot Corporation is a global specialty chemicals and performance materials company. The Company operates through four business segments: reinforcement materials, performance chemicals, purification solutions and specialty fluids. Reinforcement materials’ rubber grade carbon blacks are used to enhance the physical properties of the systems and applications in which they are incorporated.

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Institutional Ownership by Quarter for Cabot Corporation (NYSE:CBT)

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