Cabot Corp (NYSE:CBT) Short Interest Down 7.2% in September

Cabot Corp (NYSE:CBT) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 689,500 shares, a decrease of 7.2% from the August 30th total of 743,000 shares. Based on an average daily trading volume, of 339,500 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.2% of the shares of the stock are short sold.

A number of research firms recently issued reports on CBT. UBS Group began coverage on Cabot in a research note on Thursday, October 10th. They issued a “neutral” rating and a $45.00 target price on the stock. Zacks Investment Research lowered Cabot from a “hold” rating to a “sell” rating and set a $42.00 target price on the stock. in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on Cabot from $50.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Northcoast Research set a $45.00 target price on Cabot and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised Cabot from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.00.

Institutional investors have recently modified their holdings of the business. North Star Investment Management Corp. purchased a new position in shares of Cabot during the 3rd quarter worth $36,000. Machina Capital S.A.S. lifted its stake in shares of Cabot by 409.2% during the 2nd quarter. Machina Capital S.A.S. now owns 998 shares of the specialty chemicals company’s stock worth $48,000 after purchasing an additional 802 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Cabot by 226.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 1,089 shares of the specialty chemicals company’s stock worth $52,000 after purchasing an additional 755 shares during the period. Coastal Investment Advisors Inc. purchased a new position in shares of Cabot during the 2nd quarter worth $57,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Cabot by 81.3% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,960 shares of the specialty chemicals company’s stock worth $94,000 after purchasing an additional 879 shares during the period. 85.86% of the stock is currently owned by institutional investors.

Shares of Cabot stock traded up $0.43 during trading hours on Thursday, reaching $43.68. 1,789 shares of the company’s stock were exchanged, compared to its average volume of 260,881. Cabot has a 52-week low of $37.11 and a 52-week high of $55.14. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51. The company has a fifty day moving average of $43.52 and a 200-day moving average of $43.97. The company has a current ratio of 2.07, a quick ratio of 1.27 and a debt-to-equity ratio of 0.83.

Cabot (NYSE:CBT) last issued its quarterly earnings results on Monday, August 5th. The specialty chemicals company reported $1.00 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.00. Cabot had a return on equity of 18.60% and a net margin of 6.49%. The company had revenue of $845.00 million for the quarter, compared to analyst estimates of $858.86 million. During the same quarter in the prior year, the company posted $1.06 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Cabot will post 3.97 earnings per share for the current fiscal year.

About Cabot

Cabot Corporation operates as a specialty chemicals and performance materials company. The company offers rubber grade carbon blacks 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 compounds of carbon black and rubber.

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