Healthcare of Ontario Pension Plan Trust Fund decreased its position in shares of Cabot Corporation (NYSE:CBT – Free Report) by 67.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,128 shares of the specialty chemicals company’s stock after selling 89,414 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.08% of Cabot worth $3,248,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC lifted its stake in Cabot by 2,559.5% during the 1st quarter. NewEdge Advisors LLC now owns 984 shares of the specialty chemicals company’s stock valued at $82,000 after acquiring an additional 947 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Cabot by 32.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 442,646 shares of the specialty chemicals company’s stock valued at $36,802,000 after acquiring an additional 108,645 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Cabot by 102.6% in the first quarter. Empowered Funds LLC now owns 28,162 shares of the specialty chemicals company’s stock worth $2,341,000 after acquiring an additional 14,260 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Cabot by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 122,022 shares of the specialty chemicals company’s stock worth $10,145,000 after purchasing an additional 4,048 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Cabot by 409.0% during the first quarter. Geneos Wealth Management Inc. now owns 453 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.
Cabot Price Performance
NYSE:CBT opened at $88.24 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.51. Cabot Corporation has a 52 week low of $58.33 and a 52 week high of $94.53. The stock’s 50-day moving average price is $87.80 and its 200-day moving average price is $79.32. The stock has a market capitalization of $4.55 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 11.91 and a beta of 0.83.
Cabot Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, August 28th. Cabot’s dividend payout ratio is 35.73%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on CBT shares. UBS Group upped their price target on shares of Cabot from $81.00 to $86.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Mizuho boosted their price objective on Cabot from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. upped their target price on Cabot from $68.00 to $70.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Cabot from a “hold” rating to a “buy” rating in a report on Sunday, June 14th. Finally, Truist Financial initiated coverage on Cabot in a research report on Monday, June 8th. They set a “buy” rating and a $98.00 price target for the company. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cabot currently has a consensus rating of “Hold” and a consensus target price of $85.80.
View Our Latest Stock Report on CBT
Cabot Company Profile
Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.
The company operates two primary segments: Reinforcement Materials and Performance Materials.
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