Bank of New York Mellon Corp Reduces Position in Cabot Corporation $CBT

Bank of New York Mellon Corp decreased its stake in shares of Cabot Corporation (NYSE:CBT) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 578,406 shares of the specialty chemicals company’s stock after selling 8,437 shares during the quarter. Bank of New York Mellon Corp’s holdings in Cabot were worth $43,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CBT. Geneos Wealth Management Inc. increased its position in shares of Cabot by 409.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 364 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Cabot during the 1st quarter valued at about $43,000. CWM LLC increased its holdings in shares of Cabot by 55.0% in the first quarter. CWM LLC now owns 600 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 213 shares during the period. UMB Bank n.a. raised its stake in shares of Cabot by 52.4% in the second quarter. UMB Bank n.a. now owns 730 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 251 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of Cabot by 1,553.7% during the first quarter. Brooklyn Investment Group now owns 678 shares of the specialty chemicals company’s stock worth $56,000 after purchasing an additional 637 shares during the period. 93.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CBT. Weiss Ratings reiterated a “hold (c)” rating on shares of Cabot in a report on Wednesday, October 8th. Zacks Research lowered shares of Cabot from a “hold” rating to a “strong sell” rating in a research note on Friday, November 7th. Mizuho decreased their target price on shares of Cabot from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, UBS Group cut their price target on Cabot from $82.00 to $65.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $79.33.

Cabot Stock Up 0.2%

Cabot stock opened at $61.51 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 1.41. The stock has a market capitalization of $3.27 billion, a PE ratio of 8.04 and a beta of 0.90. The business has a 50 day simple moving average of $72.27 and a 200-day simple moving average of $75.15. Cabot Corporation has a 12 month low of $58.99 and a 12 month high of $115.16.

Cabot (NYSE:CBT) last announced its earnings results on Monday, November 3rd. The specialty chemicals company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.02). Cabot had a net margin of 11.14% and a return on equity of 25.68%. The business had revenue of $899.00 million for the quarter, compared to analysts’ expectations of $967.02 million. During the same quarter last year, the business earned $1.80 EPS. The company’s quarterly revenue was down 10.2% on a year-over-year basis. Cabot has set its FY 2026 guidance at 6.000-7.00 EPS. On average, analysts anticipate that Cabot Corporation will post 7.57 EPS for the current fiscal 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.