Cabot Corporation (CBT) : The short interest in Cabot Corporation (CBT) has increased from 970,394 to 1,043,459 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 322,352 shares are traded daily in the stock and only 3 days are left for the shorts to cover. The short open interest is 1.7% of the total shares in the hands of the public. The shorts in the stock have gone up by 73,065 shares, which is an increase of 7.5% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Cabot Corporation (NYSE:CBT): The stock opened at $49.90 on Wednesday but the bulls could not build on the opening and the stock topped out at $49.99 for the day. The stock traded down to $49.35 during the day, due to lack of any buying support eventually closed down at $49.44 with a loss of -0.60% for the day. The stock had closed at $49.74 on the previous day. The total traded volume was 441,162 shares.
In a related news, The Securities and Exchange Commission has divulged that Kelly James Patrick, officer (Vice President and Controller) of Cabot Corp, had unloaded 2,500 shares at an average price of $50.95 in a transaction dated on July 28, 2016. The total value of the transaction was worth $127,375.
Cabot Corporation (Cabot) is a global specialty chemicals and performance materials company. The Companys 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 Companys 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 Companys Specialty Fluids segment produces and markets cesium formate as a drilling and completion fluid.