Shanda Asset Management Holdings Ltd adds Cabot Corp (CBT) to its portfolio

Cabot Corp (CBT) : Shanda Asset Management Holdings Ltd added new position in Cabot Corp during the most recent quarter end. The investment management firm now holds 74,832 shares of Cabot Corp which is valued at $3,615,882 , the company said in a statement filed on Aug 11, 2016 with the SEC.Cabot Corp makes up approximately 0.59% of Shanda Asset Management Holdings Ltd’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag reduced its stake in CBT by selling 28,472 shares or 22.83% in the most recent quarter. The Hedge Fund company now holds 96,226 shares of CBT which is valued at $4,649,640. Cabot Corp makes up approx 0.01% of Credit Suisse Ag’s portfolio.Alambic Investment Management boosted its stake in CBT in the latest quarter, The investment management firm added 2,260 additional shares and now holds a total of 8,600 shares of Cabot Corp which is valued at $421,056. Cabot Corp makes up approx 0.09% of Alambic Investment Management’s portfolio.Cambridge Trust Co boosted its stake in CBT in the latest quarter, The investment management firm added 15,000 additional shares and now holds a total of 134,998 shares of Cabot Corp which is valued at $6,558,203. Cabot Corp makes up approx 0.49% of Cambridge Trust Co’s portfolio.First Citizens Bank Trust Co boosted its stake in CBT in the latest quarter, The investment management firm added 519 additional shares and now holds a total of 9,369 shares of Cabot Corp which is valued at $456,177. Cabot Corp makes up approx 0.04% of First Citizens Bank Trust Co’s portfolio. Lingohr Partner Asset Management Gmbh sold out all of its stake in CBT during the most recent quarter. The investment firm sold 16,700 shares of CBT which is valued $821,640.

Cabot Corp opened for trading at $49.8 and hit $50.34 on the upside on Tuesday, eventually ending the session at $50.04, with a gain of 0.66% or 0.33 points. The heightened volatility saw the trading volume jump to 4,18,528 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.

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