Mengis Capital Management Inc. Has $562,000 Holdings in Cabot Corporation $CBT

Key Points

• Mengis Capital Management Inc. reduced its stake in Cabot Corporation (CBT) by 62.5%, selling 12,500 shares and leaving it with 7,500 shares worth $562,000.
• Institutional investors collectively own 93.18% of Cabot's stock, with several hedge funds making modifications to their holdings in the company recently.
• Cabot Corporation's stock has a consensus rating of "Hold" from analysts, with a target price averaging $85.00 following recent price adjustments from firms like UBS and Mizuho.

Mengis Capital Management Inc. cut its stake in Cabot Corporation (NYSE:CBT - Free Report) by 62.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,500 shares of the specialty chemicals company's stock after selling 12,500 shares during the period. Mengis Capital Management Inc.'s holdings in Cabot were worth $562,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. QRG Capital Management Inc. acquired a new position in shares of Cabot in the 1st quarter worth approximately $482,000. SG Americas Securities LLC bought a new stake in Cabot during the 1st quarter worth approximately $1,102,000. GAMMA Investing LLC grew its position in Cabot by 26.1% during the 1st quarter. GAMMA Investing LLC now owns 1,700 shares of the specialty chemicals company's stock worth $141,000 after acquiring an additional 352 shares during the last quarter. KBC Group NV grew its position in Cabot by 31.5% during the 1st quarter. KBC Group NV now owns 2,690 shares of the specialty chemicals company's stock worth $224,000 after acquiring an additional 644 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Cabot during the 1st quarter worth approximately $975,000. 93.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CBT has been the topic of a number of research analyst reports. UBS Group set a $82.00 price target on Cabot and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Cabot in a research report on Wednesday. Finally, Mizuho decreased their price target on Cabot from $90.00 to $88.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cabot has a consensus rating of "Hold" and an average target price of $85.00.

Insider Activity

In other news, CEO Sean D. Keohane sold 114,436 shares of the firm's 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 transaction, the chief executive officer directly owned 361,518 shares in the company, valued at $28,661,147.04. This trade represents a 24.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.03% of the stock is owned by corporate insiders.

Cabot Stock Down 2.4%

Shares of CBT opened at $71.28 on Friday. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 9.32 and a beta of 0.88. 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 business's fifty day moving average price is $78.19 and its two-hundred day moving average price is $77.33. Cabot Corporation has a 52 week low of $70.40 and a 52 week high of $117.46.

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

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.

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