Procurement News Notice |
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| PNN | 8181 |
| Work Detail | Fiduciary Trust Co reduced its stake in Cabot Corp by 6.52% during the most recent quarter end. The investment management company now holds a total of 1,209,519 shares of Cabot Corp which is valued at $58,443,958 after selling 84,395 shares in Cabot Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Cabot Corp makes up approximately 1.99% of Fiduciary Trust Co’s portfolio. Other Hedge Funds, Including , D. E. Shaw sold out all of its stake in CBT during the most recent quarter. The investment firm sold 16,695 shares of CBT which is valued $806,702. Jefferies Group sold out all of its stake in CBT during the most recent quarter. The investment firm sold 4,496 shares of CBT which is valued $217,247.Nuveen Asset Management boosted its stake in CBT in the latest quarter, The investment management firm added 45 additional shares and now holds a total of 261,625 shares of Cabot Corp which is valued at $12,641,720. Cabot Corp makes up approx 0.08% of Nuveen Asset Management’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in CBT by selling 202 shares or 1.33% in the most recent quarter. The Hedge Fund company now holds 14,984 shares of CBT which is valued at $729,571. Cabot Corp makes up approx 0.01% of Public Employees Retirement Association Of Colorado’s portfolio. Cabot Corp opened for trading at $50.06 and hit $50.26 on the upside on Thursday, eventually ending the session at $50.03, with a gain of 0.34% or 0.17 points. The heightened volatility saw the trading volume jump to 3,03,363 shares. Company has a market cap of $3,121 M. On the company’s financial health, Cabot Corp reported $0.93 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $0.93. The company had revenue of $621.00 million for the quarter, compared to analysts expectations of $611.75 million. The company’s revenue was down -10.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.64 EPS. Many Wall Street Analysts have commented on Cabot Corp. Cabot Corp was Downgraded by SunTrust to ” Neutral” on Aug 2, 2016. Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Company’s principal products are rubber and specialty grade carbon blacks fumed metal oxides activated carbon inkjet colorants aerogel and cesium formate drilling fluids. The Company operates through four segments: Reinforcement Materials Performance Chemicals Purification Solutions and Specialty Fluids. The Reinforcement Materials segment includes rubber blacks products which are used in tires and industrial products. The Company’s Performance Chemicals consists of two businesses: Specialty Carbons and Formulations business and Metal Oxides business. The Purification Solutions segment includes activated carbon products which are used as either a colorant or a decolorizing agent in the production of products for food and beverage applications. The Company’s Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid. |
| Country | United States , Northern America |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://www.tradecalls.org/2016/09/fiduciary-trust-co-lowers-stake-in-cabot-corp-cbt-383533/ |
