The Manufacturers Life Insurance Company purchased a new stake in Cabot Corporation (NYSE:CBT – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 47,211 shares of the specialty chemicals company’s stock, valued at approximately $4,288,000.
Several other large investors have also modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Cabot in the second quarter worth approximately $633,302,000. Fuller & Thaler Asset Management Inc. increased its position in Cabot by 5.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,343,322 shares of the specialty chemicals company’s stock worth $155,315,000 after purchasing an additional 124,613 shares during the last quarter. State Street Corp raised its stake in Cabot by 1.0% during the fourth quarter. State Street Corp now owns 2,025,589 shares of the specialty chemicals company’s stock worth $134,256,000 after purchasing an additional 20,021 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Cabot by 4.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,742,782 shares of the specialty chemicals company’s stock valued at $131,253,000 after purchasing an additional 79,499 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Cabot by 3.9% in the 3rd quarter. Bank of America Corp DE now owns 1,683,520 shares of the specialty chemicals company’s stock valued at $128,032,000 after purchasing an additional 63,080 shares during the last quarter. 93.18% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently commented on CBT shares. JPMorgan Chase & Co. upped their price objective on Cabot from $70.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, August 7th. Wall Street Zen raised Cabot from a “hold” rating to a “buy” rating in a research report on Sunday, August 9th. Mizuho upped their price target on Cabot from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. UBS Group cut their price objective on Cabot from $97.00 to $92.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cabot in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cabot presently has an average rating of “Hold” and an average price target of $89.00.
Insider Activity at Cabot
In related news, CEO Sean D. Keohane sold 134,895 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $85.00, for a total transaction of $11,466,075.00. Following the transaction, the chief executive officer directly owned 404,134 shares of the company’s stock, valued at approximately $34,351,390. The trade was a 25.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 229,597 shares of company stock worth $19,646,746. Company insiders own 3.08% of the company’s stock.
Cabot Stock Performance
Shares of CBT stock opened at $82.72 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The company has a market cap of $4.27 billion, a PE ratio of 23.30, a P/E/G ratio of 10.98 and a beta of 0.84. The company’s fifty day simple moving average is $87.46 and its 200-day simple moving average is $81.29. Cabot Corporation has a 52 week low of $58.33 and a 52 week high of $94.53.
Cabot (NYSE:CBT – Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The specialty chemicals company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.01. Cabot had a return on equity of 20.29% and a net margin of 5.23%.The firm had revenue of $982.00 million during the quarter, compared to the consensus estimate of $943.16 million. During the same period in the prior year, the firm earned $1.90 EPS. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. Cabot has set its FY 2026 guidance at 6.150-6.450 EPS. As a group, equities research analysts anticipate that Cabot Corporation will post 6.35 EPS for the current year.
Cabot Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a dividend of $0.4725 per share. This represents a $1.89 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, August 28th. Cabot’s dividend payout ratio (DPR) is presently 53.24%.
Cabot 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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